Attorney General Announces Settlement of Fraud Case with Mortgage Rescue Firms; Principal Defendant Agrees to Judgment of $805,000, Ban on Future Involvement

TRENTON, NJ – October 20, 2010 – (RealEstateRama) — Attorney General Paula T. Dow announced today that the owner of several New Jersey loan modification companies has agreed to pay the state $805,000 and stay out of the foreclosure rescue business to resolve allegations he defrauded struggling homeowners who sought help in staving off foreclosure.