CINCINNATI (CN) - A telemarketer is pitching bogus claims that it can stop foreclosures through federal bailout programs, the Ohio Attorney General says. The state says U.S. Homeowners Assistance charges $1,800 up front with a "100% money-back guarantee," then abandons its victims.
Attorney General Richard Cordray says the Irvine, Calif.-based company falsely promises it can reduce homeowners' interest rates within 45 to 60 days, and that if they stop paying off their mortgage, it can get them into a loan modification program more quickly. The company does not even bother to contact the lenders, and ducks its customers' phone calls, Ohio says.
U.S. Homeowners Assistance offers its bogus services on TV ads and the Internet and through unsolicited phone calls, the state says. It targets people who have been named as defendants in foreclosures, and uses automatic dialing machines that announce: "Don't lose you house! Call now!" the attorney general says.
The state seeks fines, damages and an injunction, in Hamilton County Court.
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