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Updated: 11:07 PM Dec 14, 2009
Six Sees Success From Operation Homestead
Kansas Attorney General Steve Six says Operation Homestead has seen more than $200,000 recovered for the state since its launch in July.
Posted: 11:07 PM Dec 14, 2009Reporter: 13 News |
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(WIBW) - A targeted effort from the Kansas Attorney General's Office already has brought in more than $200,000 for the state.
Attorney General Steve Six filed two more lawsuits in November in connection with Operation Homestead. Launched in July, Operation Homestead targets predatory lenders and mortgage fraud schemes that emerged from the house crisis this past year.
In addition to the new lawsuits, Six said Monday that Operation Homestead has already brought in $204,770.22 in settlements and judgments.
“I am pleased to announce that while there is still work to be done, Operation Homestead is a success so far,” Six said.
Since July, Operation Homestead has netted Kansans $110,170.22 in savings and direct cash restitution to consumers as well as significant penalties and fees.
Of the five lawsuits filed in July, Six has reached a judgment in four and settled with another company without litigation.
In addition, certain companies that deal in the purchasing of redemption rights are now required to make additional disclosures to consumers that help them evaluate whether they are getting a fair deal.
“These changes will help guarantee that Kansans have all the information they need to determine whether they are getting the best deal for their redemption rights,” Six said.
The Attorney General has also stepped up his education efforts by adding a section to his website designed to educate consumers about the latest trends in mortgage and foreclosure related fraud. The website features foreclosure prevention tips, a timeline for foreclosures, detailed information about mortgage modification scams, as well as a short video explaining redemption rights.
Six has also increased his individual outreach efforts.
“Educating consumers is key to Operation Homestead’s success. Representatives from my office have given presentations to hundreds of Kansans about mortgage and foreclosure fraud in Kansas,” Six said.
In the midst of the crisis, Six reminds consumers that help is available from certified non-profit housing counselors.
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