LANSING, Mich. (AP) -- More than 112 victims of a foreclosure rescue scam in Michigan will be helped after the state attorney general's office accused a company of making misleading or false statements to homeowners.
Attorney General Bill Schuette says nearly $115,000 will be distributed from a state fund to victims who paid between $595 and $3,000 to Hope4Homeowners.
Former Attorney General Mike Cox charged Help4Homeowners in Oakland County. It was convicted of three counts of violating Michigan's credit services law.
Michigan prohibits charging fees before completing services when negotiating loans on behalf of homeowners. Schuette said Friday Hope4Homeowners guaranteed to prevent foreclosure and asserted consumers could avoid foreclosure regardless of their credit score, home appraisal or debt-to-income ratio.
People who may have been victims of Help4Homeowners should call the state at (877) 765-8388.