By Nick Gale
CHICAGO - Illinois leads the nation in the number of lawsuits filed against fraudulent mortgage rescue companies.
Out of the 50 lawsuits filed, many of them stem from companies collecting fees upfront, a practice that is illegal in Illinois. Attorney General Lisa Madigan says the scammers are still out there and a big target is the Latino community.
“Frequently what we find, particularly in more immigrant communities, is that people don’t always turn to the government when they need help and instead they are often more susceptible to the scam artists, so we’re trying to prevent that and make sure the information gets to them,” Madigan said.
Madigan hopes getting the message to community gathering places like churches will help better educate those who are facing foreclosure.
Madigan has been hosting roundtable discussions on the topic of mortgage fraud. To that conversation she is warning the immigrant community to beware of immigration fraud. Madigan’s office says some scams involve promises of expedited processing of things like deferred action for an upfront fee. The bottom line is, if it sounds too good to be true, it probably is.