AG’s Take Action on CWN Reports of Foreclosure Abuse

April 29, 2009

Several Attorneys General nationwide are taking action in response to information readers provided to Consumer Warning Network.   CWN recently reported that it sent to state prosecutors in 39 states complaints it had received from victims of mortgage fraud throughout the country. CWN asked that the fraudulent mortgage lenders be held responsible for the terrible consequences contributing to the skyrocketing foreclosure rate.

Some states have already started taking action.

The AG’s offices in seven of those states have already responded, and stated they will initiate inquiries into the complaints made by citizens of their respective states. New York, Pennsylvania, Minnesota, Missouri, Connecticut, and South Carolina have promised that the complaints will be investigated. Louisiana has stated that its official state complaint forms are being sent to the homeowners who wrote in, so that an appropriate investigation can be instituted.

CWN is hopeful that the prosecutors in the remaining states will also see fit to start up their own investigations. Talking about the mortgage crisis is one thing, but actually taking action against the perpetrators is obviously much more productive.

We will keep readers posted as to the willingness of state officials to put their money where their mouth is.