A judge has put the brakes on a business in North Carolina that prosecutors say is a phony foreclosure assistance scheme.
The North Carolina Attorney General's Office says Wake County Superior Court Judge Howard Manning barred Edward “Eddie” Phillip Long, Jr., doing business as Credit Enhancement Services. Attorney General Roy Cooper is seeking to permanently shut down Long’s foreclosure assistance business and win consumer refunds and civil penalties.
“This kind of scheme robs struggling homeowners of valuable time and hard-earned money that could be used toward legitimate help that could put them back on their feet again,” Cooper said. “My office will continue to target outfits that violate the law by charging an upfront fee for their service.”
Cooper’s complaint alleged that Long promised to obtain favorable loan modifications and save customers’ homes from foreclosure for an upfront fee ranging from $500 to $1000. Under North Carolina law, it’s illegal to charge an advance fee for foreclosure assistance or loan modifications.
Cooper also says Long told people that he had extensive experience in the banking industry, including formerly serving as a bank executive at a major bank, and that he was a professor of finance at North Carolina A&T University, neither of which were true.