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Posted at 4:16 PM ET, 12/20/2010

Mortgage company to pay fine for illegal fees, Cuccinelli says

By Rosalind S. Helderman

A mortgage modification company that had been illegally charging customers fees before providing emergency foreclosure help has agreed to refund customers and pay a $5,000 fine, Attorney Gen. Ken Cuccinelli (R) said.

In November, Cuccinelli filed suit against the American Neighborhood Housing Foundation, a Chesapeake-based company that also operated a Richmond office for three years, charging that the fees violated the Virginia Foreclosure Rescue and the Virginia Consumer Protection Act, by guaranteeing the company could halt foreclosures.

In a statement, Cuccinelli said the company has agreed to refund more than $94,000 to 273 customers nationally, as well as pay the fine and $10,000 to cover attorney fees. The company has also agreed to stop charging $1,500 in advance of providing foreclosure services and to stop guaranteeing that it can save people's homes.

"People are very vulnerable in this economy and are desperately seeking help, so it is especially important that we make sure those in the mortgage industry are playing by the rules and not playing on people's desperation," Cuccinelli said in a statement.

By Rosalind S. Helderman  | December 20, 2010; 4:16 PM ET
Categories:  Ken Cuccinelli  
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Kudos to AG Cuccinelli! He is truly looking out for Virginians. Thank you, thank you, thank you!

Posted by: kayla1025 | December 20, 2010 4:55 PM | Report abuse

See, of course this isn't going to make any headlines. Just part of the job to protect citizens

Posted by: I_can_see_DCfrommyhouse | December 20, 2010 11:53 PM | Report abuse

Before you refinance, check your credit report for anything that could foul up a refinance. You don't want to lay out the money if a credit problem is going to keep you from refinancing, search online for "123 Mortgage Refinance" I just used them and they are the best, they got me 3.113% rate

Posted by: alicehart123 | December 21, 2010 12:53 AM | Report abuse

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