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one bad apple …

As noted in this post, subprime mortgage giant Ameriquest is the latest in a list of lenders getting their comeuppance for having engaged in questionnable practices (most in connection with refinances). Prosecutors in the Garden State announced a national, $325 million settlement last year in favor of 725,000 borrowers in 49 states. That agreement was among the largest consumer protection settlements ever reached by a government plaintiff. A similar $484 million settlement was obtained by a group of states in 2002 from Household Finance Corp.

:: Bankruptcy Attorney in Illinois :: M. Hedayat & Associates, P.C. ::

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  • Bluegil

    Would you be kind enough to list some of these questionnable practices? It is becoming clear, only those actually “caught” can be pursed. Consumer’s need to re-address their current finance options – and what to avoid.