Consumer Beware: County, State Taking on Mortgage Rescue Fraud

April 16, 2010  |  

(Chicago Defender) — Illinois Attorney General Lisa Madigan and Cook County Recorder of Deeds Eugene Moore are among the elected officials taking on mortgage rescue fraud, as many homeowners have fallen prey to it, sub prime loans and questionable refinancing practices.

Madigan said Blacks and Latinos are often targeted for sub prime loans and questionable refinancing deals. She told the Defender that some companies are “unfairly and deceptively” getting people involved in mortgage rescue programs that that turn out to be costly scams.

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