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
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.