NEW YORK (Legal Newsline) — American Hope Group Inc. and its principal, Mauricio Villamarin Martinez (collectively “American Hope Group”), have agreed to a $1.6 million settlement after allegations involving a fraudulent mortgage scam, New York Attorney General Eric T. Schneiderman recently announced.

 

According to Schneiderman’s office, the Queens-based American Hope Group targeted vulnerable Hispanic homeowners desperate to save their homes from foreclosure. The company would purportedly collect monthly fees from these consumers but fail to deliver any of the relief promised.

 

“My office will aggressively investigate companies that scam New Yorkers out of their hard earned money by seeking to exploit financially distressed homeowners who are in danger of losing their homes to foreclosure,” Schneiderman said. “I’m pleased that this settlement will bring some relief to the hardworking New Yorkers who were cheated out of thousands of dollars, and in some cases even lost their homes, due to American Hope Group’s predatory schemes.”  

 

In addition to monetary fines, American Hope Group is barred from advertising or providing any mortgage assistance relief service for three years, collecting advance fees for mortgage services, and misrepresenting the likelihood it can provide relief.

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