Fla. AG Targets Co. Running Mortgage Relief Scam

Law360, Miami (August 8, 2013, 7:16 PM EDT) -- The Florida attorney general on Wednesday sued a Broward County-based company that the state says preyed on distressed homeowners by falsely promising to void their underwater mortgages and replace them with affordable loans.

Florida Attorney General Pam Bondi sued Whitestone Capital Trust LLC, Become the Bank LLC and their owner, Nicholas Torgerson, for allegedly violating the Florida Deceptive and Unfair Trade Practices Act by charging homeowners fees up front while telling them their mortgages could be voided and replaced.

“Today's lawsuit will protect Florida's homeowners from...
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