Rep. Woody Burton joined Attorney General Greg Zoeller today to disclose the list of more than 70 victims of foreclosure fraud who will receive payments from the newly-created Consumer Protection Assistance Fund.
During the foreclosure crisis, many homeowners were victimized by foreclosure-rescue fraud, deceptive credit services or home loan practices. Many consumers then filed complaints with the Attorney General’s Office.
“It’s upsetting that these people put their faith in other people or organizations to help them with their financial troubles, and they were cheated,” said Rep. Burton. “In difficult economic times, people are trying to do what’s right and make ends meet, but they are taken advantage of by bad actors.
“This assistance will help those who are in need in order to get them back on their feet and undo any damage. More importantly, the assistance is at no expense to the taxpayer.”
Default judgments against companies do not often result in the victims receiving any payments for their financial losses. In order to help those who reported these types of violators to the state, the 2011 Indiana General Assembly passed legislation creating the fund.
Legislators, including Rep. Burton, passed legislation allowing the money to originate from funds recovered from companies sued by the attorney general for violating consumer protection laws.
State Reps. David Frizzell (R-Indianapolis), Randy Frye (R-Greensburg), Mike Speedy (R-Indianapolis), Sen. Pat Miller (R-Beech Grove) and two victims receiving help from the fund were also present during today’s announcement.
The following picture features (from left to right) Rep. Mike Speedy, Sen. Pat Miller, Wanda Stewart (fraud victim), Attorney General Greg Zoeller, Rep. Randy Frye, Rep. David Frizzell, Cecil Holly (fraud victim) and Rep. Woody Burton.
