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Florida attorney general sues Countrywide for misleading borrowers



Florida Attorney General Bill McCollum has sued Countrywide Financial for “deceptive and unfair” practices that victimized borrowers.

The suit claims Countrywide put borrowers into mortgages they couldn’t afford and touted misleading rates and penalties.

“It is unthinkable that a company would try to take advantage of someone’s dream of homeownership,” McCollum said. “Florida homeowners who are trying to protect their homes from foreclosures shouldn’t have to worry about their mortgage brokers or lenders unfairly profiting at their expense.”

angelo mozilo.JPG

The suit also names Countrywide head Angelo Mozilo (right).


Permalink | Comments (15) | Post your comment | Categories: Jeff Ostrowski

Comments

By Get in the Game

July 1, 2008 12:37 PM | Link to this

Again, if people just SAVED money; then

You would not have to deal with entities like CFC or WM.

‘Dream’ of owning a house? You mean let’s keep adding DEBT and let’s keep allowing Asia to be our major Creditor!

Consumption is the reward for savings.

By steve

July 1, 2008 12:43 PM | Link to this

Can we now go after the mortgage brokers and realtors that have been involved in the Olympia scams? They are still going on…how about the Olympia scam of foreclosing on your house..then you “knock” on doors in the development of homes in pre-foreclosure..pay them “anything” in rent..THEN rent out the rooms yourself to low lifes and not report it to Minto…you wonder why there is so much crime? Do i have to give names or can the Palm Beach Post investigate….How about the same couple of realtors who now are short sale “experts”..destroy the homeowner into giving the house away to a “friend” of the realtor who then looks to flip it..that is fraud…how about the guy who owned more than 5 homes in here..foreclosed on a bunch,was involved in a mortage”scam” and is still lurking in here ,while renting out rooms unapproved and ripping off the banks at the same time….no one including this newspaper will do anything..FBI is so backed up..no one cares..next time i mention names

By Margery Golant

July 1, 2008 3:18 PM | Link to this

It is about time ! The level of rip-off in Florida was worse than almost anywhere else in the US, and the amount of foreclosure is an outrage. We are lawyers who defend people in foreclosure, so know this first-hand. If you are about to be foreclosed on or have been served with papers fight back - there ARE things you can do! We can help.

Margery Golant Attorney at law margerygolant@golantlaw.com

By Margery Golant

July 1, 2008 3:25 PM | Link to this

It is about time ! The level of rip-off in Florida was worse than almost anywhere else in the US, and the amount of foreclosure is an outrage. We are lawyers who defend people in foreclosure, so know this first-hand. If you are about to be foreclosed on or have been served with papers fight back - there ARE things you can do! We can help.

Margery Golant Attorney at law margerygolant@golantlaw.com

By OLD REAL ESTATE LAWYER

July 1, 2008 3:43 PM | Link to this

This is a better question for The Palm Beach Post to ask…Will the Florida Attorney General sue The Palm Beach Post for misleading readers each month when Jeff INFLATED the Palm Beach County and Treasure Coast foreclosure numbers from Realty Trac by 300 %! That’s as good as the Countrywide scandal maybe even better.

By Bored With You

July 1, 2008 10:14 PM | Link to this

Oh God, you again! Remember genius, you can ask the newspaper for a retraction or correction on anything they print that you can show is not accurate. So, again, please put up or shut up. I’ll be buying a new home in 2011 when this market bottoms but I won’t be using a realtor. 6%, for what?? Bwahahahahaha!

By lawyerdumbdumb

July 1, 2008 10:40 PM | Link to this

The old lawyer idiot must be a Palm Beach county resident that lost his rear end flipping (or flubbing as I now call it) and reminds me of a joke: There burying lawyers 100’ down now. Know why? Deep down inside, they’re really nice people. Time to die off this message board, old timer. No one cares what you think.

By OREL is smart

July 2, 2008 10:12 AM | Link to this

Why trash OREL? He brings up some valid points on this board. Why should the MSM get a free pass for all of the highly negative articles they have written? The PBP has some responsibility for creating this negative mindset that is destroying home values.

By Get in the Game

July 2, 2008 2:36 PM | Link to this

Again, Jeff and the PBP only report major news headlines.

Rarely, do they originate RE articles.

And ‘creating this negative mindest’ is RIDICULOUS.

‘Leverage creates the illusion of liquidity.’

Save money and you shall greatly reduce many of your problems.

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December 2, 2010 4:36 AM | Link to this

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December 12, 2010 12:52 PM | Link to this

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By extremus insurance

December 12, 2010 12:58 PM | Link to this

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