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[0:00] ..." This is Anthony silver in the WBZ newsroom a Brockton attorney has declared bankruptcy and is foreclosure rescue scam has been exposed. I spoke with the attorney Martha Coakley she tells me she has reached a settlement with ten mortgage lenders which fond of these scam transactions by attorney Alex --"...
[0:21] ..." brought by the office when I'm Ronnie was Attorney General against a foreclosure rescue scheme. Don't -- was an attorney who worked with other. Brokers and basically we alleged in in in it claimed that"...
[2:03] ..." at times these schemes were actually advertised as schemes get out of foreclosure. -- but actually what these people were doing work they were signing the ownership of their home over to somebody else so"...
[2:42] ..." I'm seeking to prey upon -- were already vulnerable because they're facing foreclosure. Do not conveyed to title your property deeds your property to anybody for money."...
[0:00]" This is Anthony silver in the WBZ newsroom a Brockton attorney has declared bankruptcy and is foreclosure rescue scam has been exposed. I spoke with the attorney Martha Coakley she tells me she has reached a settlement with ten mortgage lenders which fond of these scam transactions by attorney Alex --"
[0:17]" Actually this piece -- early. -- brought by the office when I'm Ronnie was Attorney General against a foreclosure rescue scheme. Don't -- was an attorney who worked with other. Brokers and basically we alleged in in in it claimed that he but. Find all over their property to him ITV promises city could help them with foreclosures to sicker that they ended up losing their homes. These epic kind of foreclosures scheme that was one of the first things that we outlawed that we looked at new regulation. So are we dispute there were 26 homeowners in that suit and it development promise settlement are interesting because although he wanted to bankruptcy court this settlement agreement with the lenders. That is those who were involved in the transaction intact -- 26 properties. And we are hopeful that is these owners will be put back in the position they were these were directly. -- the look at the lead back to their property they may have some opportunity open to restructure those loans."
[1:27]" So these victims could possibly get their homes back are they in these homes now."
[1:32]" They are not it's part nine now on that's what was allegation by the time. We've rocket they came to us with complaints -- Horry each -- their homes over on to Alex Olmert at the title to their property. An excellent thing of course we warn people without. On duty not to form money and -- at -- property in the claimed that would work should be continued measure all of and leisure equity and it's very very difficult it is right back he'd been in bankruptcy court."
[2:02]" You know Attorney General at times these schemes were actually advertised as schemes get out of foreclosure. -- but actually what these people were doing work they were signing the ownership of their home over to somebody else so they could escape the responsibility."
[2:17]" That's exactly right and it seemed like an easy way out. We have been concerned for a long time about these schemes of course people are vulnerable any -- is that you they've made some bad choices we just want to make sure they don't. Particularly we've been rewarding people in light of the ninety day freed now because of the news statute there may -- more time for people and we are hoping that there won't be an uptick in these kind of -- to people. I'm seeking to prey upon -- were already vulnerable because they're facing foreclosure. Do not conveyed to title your property deeds your property to anybody for money."
[2:52]" So indeed these types of schemes are still being news."
[2:56]" I believe they are there are legal under the law are and it questions about one that EB you're thinking about or you've entered into -- called the attorney general's office."
[3:06]" Is this brought that attorney still practicing again it up yeah. Well what is next in this case what will be the resolution of this case."
[3:14]" Well be cooked to order now. -- real try to reach the war again -- 26 people were involved in this onto their status these war. They entered into the foreclosures scheme was so where they will still have. Issues around but that they can stay in their home where they can restructure a mortgage but the first that is really to -- of remediation give them back the equity in their roles that they had at the time they conveyed the property Alex -- And we are hopeful it -- have to pick one of the kind of some of them may be able to restructure loans. On the would be able to -- their properties."
[3:51]" Do you have other cases similar to this in the pipeline."
[3:54]" Are we have brought some others units around that we have others under investigation here investigating. You know variety of rescue -- as well as the wounds themselves. But we do urge anybody who believes that -- she'd been victimized by this kind of foreclosures seem to call us and most importantly try to avoid in the first place."
[4:13]" Attorney General always a pleasure to speak with you thank you thank you"
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