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Vermont AG warns of foreclosure scams

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May 27, 2010

MONTPELIER, Vermont: A rash of consumer complaints has prompted Vermont Attorney General William H. Sorrell to warn "homeowners in financial distress to avoid offers of quick fixes for their mortgage or foreclosure problems."[1] The problem stems mainly from out of state companies, mainly from California, enticing people with false promises of "reducing their mortgages" or "stopping foreclosure" in an already frightening economic environment. These scams con between $1,500 and $2,000 from each consumer before going out of business, thus preventing any legal recourse to remedy the situation from taking place.

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