TALLAHASSEE, Fla. – Aug. 27, 2013 – Attorney General Pam Bondi’s office has obtained a temporary injunction and asset freeze against two companies that allegedly preyed on Florida homeowners, defrauding them out of thousands of dollars in a mortgage relief scam.
According to the complaint, The Cambridge Land Trust Company, LLC, The Hartford Land Trust Company, LLC, Robert J. Vitale and other participants charged homeowners up-front fees and, in return, falsely guaranteed that the defendants would restore homeowners’ equity in their homes.
The Broward County Circuit Court ordered the defendants to immediately cease operations and froze their assets.
“We have stopped these companies from preying on Florida’s distressed homeowners by stealing their money and making false promises regarding the future of their homes,” stated Attorney General Pam Bondi. “My office will continue to protect Florida homeowners from these scams.”
The companies allegedly claimed that they could restore the equity in a homeowner’s property by working with attorneys to make the mortgage unenforceable, and then they would negotiate a new mortgage at current fair market value. The companies also allegedly advised homeowners to transfer ownership of their property into a company-run land trust, which the companies falsely contended would shield the property from foreclosure.
The temporary injunction is posted on the Florida Attorney General’s website.
© 2013 Florida Realtors®
Reprinted with permission. Florida Realtors®. All rights reserved.