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State AG Sues Broward Co. Over Mortgage Help Claims

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(Source: CBS)

(Source: CBS)

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TALLAHASSEE (CBSMiami/AP) — A Broward company which allegedly preyed on homeowners in danger of losing their homes is being sued by the state.

On Wednesday, state Attorney General Pam Bondi’s office filed a lawsuit against Nicholas Torgerson and two companies Whitestone Capital Trust LLC and Become the Bank LLC.

The lawsuit contends that the company violated the state’s consumer protection laws by charging homeowners up-front fees and by falsely misrepresenting that the defendants would cancel or void the homeowners’ mortgage.

Bondi’s office, however, alleged that the company allegedly acquired titles to the distressed owners’ homes and pocketed the advance fees without providing any help. The homeowners remained liable for the mortgage payments.

(TM and © Copyright 2013 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2013 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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