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Foreclosure Homes in Indianapolis – Victimized by Agents

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By : Julie Thompson    99 or more times read
Daniel Shrader is an agent in a number of companies that try to cater help, through their rescue programs related to foreclosure, to troubled owners of homes. A case has been filed against this agent due to complaints from residents of Indiana including those who lost their possessions.

The Attorney General’s Homeowner Protection Unit reported around 70 complaints made by homeowners against Shrader. He used to work for many companies like Great Homes LLC, Prizm Partners, Orion, Northstar Homes, Regal Partners and an internet resource that people who faced problem of foreclosure in that area.

Indiana residents complained that these companies and Shrader did not give any mortgage for those residential properties that took possession of. There are certain rules of the State that provide services to homeowners who make an endeavor to save their homes from legal proceedings and from converting them into REO properties that banks offer for sale. This agent not even followed these rules.

According to Government lawyers this is a consumer issue which needs special attention since the area is affected by housing problems. They further reported that many homeowners as being affected by problems of foreclosure desperately seek help from anyone. Due to the complaints a judge in Hamilton County ordered this agent to pay those loans that were due for his clients.

Further state investigators had to track Shrader to probe into an injunction launched against his business. Homeowners who lost properties in legal proceedings of Indianapolis and state residents who sought help from Shrader made the issue more serious by calling it a fraud operation to solve housing problem in the state.

State homeowners like those whose houses have been forfeited because of Freddie Mac and bank foreclosure and other kinds of problem, have been warned by local officials not to rely on anyone who claims himself to be a consultant in legal proceedings. Residents must ensure that the consultant has no personal interest on that property and have a minimum of $25,000 bond. Homeowners should be informed about their rights by legitimate consultants. It is also his duty to inform owners about other companies that provide same services without any cost.

State Attorney emphasized that homeowners should consult a lawyer before hiring any consultant. They should also go through the documents beforehand and then sign it. They gave a warning that there may be other cases too as that of Shrader.

Attorney General’s Office of the sate reported of nine such investigations concerning companies that offer consultancy services, which were in process.
Julie Thompson, has been working on studying the foreclosures market, helping buyers on the finer points of foreclosed homes. Try to visit and search foreclosures by state.

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