Wednesday, August 15, 2012

Virginia AG Reaches Civil Suit Settlement With Alleged Loan Modification Racket Operator

In Richmond, Virginia, The Virginian Pilot reports:

  • The state has reached a settlement with a Chesapeake-based mortgage loan-modification company that had been accused of charging illegal advance fees to clients seeking foreclosure rescue services, Virginia Attorney General Ken Cuccinelli said [].
  • According to the attorney general's office, the settlement with R.L. Brad Street and [company owner Rhonda L.] Wyland includes a permanent injunction prohibiting them from collecting advance fees as well as a judgment of $32,900 against them to be paid as restitution to customers. Cuccinelli said the settlement also calls for the company and Wyland to pay a combined $25,000 in civil penalties and reimburse the state $5,000 in legal fees.

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