Washington’s Attorney General declared a major victory for consumers today in response to a judge’s order that a notorious foreclosure rescue scammer, Joseph Kaiser, must pay more than $3.2 million to victims he wronged plus $179,000 in penalties for violating the Consumer Protection Act. What are foreclosure rescue scams? Attorney General McKenna explains…
McKenna (Kaiser1, :20):
“Joseph Kaiser is a real estate investor who made money by claiming to help people facing foreclosure, but actually just taking their homes, their land, and their money. He also wrote books and taught seminars to other people claiming he could help them make a lot of money by doing real estate deals involving distressed properties, including properties in foreclosure.”
McKenna says these kinds of scam artists target some of the most vulnerable homeowners.
McKenna (Kaiser2, :10):
“Kaiser’s victims included the elderly, disabled people, low-income people – these were people who he persuaded to trust him to solve their foreclosure problems and he betrayed that trust.”
McKenna says today’s victory is part of a major push by his office to help struggling homeowners.
McKenna (Kaiser3, :17):
“For several years now in the Attorney General’s Office, we’ve been working to help people stay in their homes by battling foreclosure rescue fraud, going after predatory lenders, and negotiating loan modification programs to help more people avoid foreclosure. Today’s case is one of the most important foreclosure rescue scam cases that we’ve brought.”
To find out more about what the AG’s office is doing to protect homeowners at risk of foreclosure, and to download a copy of their free “recession survival guide,” go to www.atg.wa.gov/economy.aspx.
Media Contact: Kristin Alexander, Media Relations Manager -- Seattle, (206) 464-6432