TALLAHASSEE, Florida -- Florida Attorney General Pam Bondi has convinced a judge to ban two companies from continuing to operate an alleged fraudulent mortgage relief scam.
Bondi's office claims The Cambridge Land Trust Company and the The Hartford Land and Trust Company preyed on people who lost equity in their homes during the real estate bust.
Both companies claimed they could restore equity in a property by making the mortgage unenforceable and then negotiating a new mortgage based on a lower market value.
However, the company allegedly acquired titles to the distressed owners' homes and pocketed the advance fees without providing the promised relief. The homeowners continued to remain liable for payments on the mortgage and note they believed to have been voided.