Bankruptcy Article


Horne Issues National Mortgage Settlement Consumer Alert to Arizonans

*Please be advised that the article below remains on the site for informational purposes only and may contain information that is no longer current.


PHOENIX (Tuesday, April 24, 2012)  --  As the National Mortgage Settlement between Arizona and 48 other states, the federal government, and the country’s five largest residential mortgage loan servicers goes into effect, Arizona Attorney General Tom Horne is alerting Arizona consumers looking for mortgage relief to beware of scam artists.

“Consumers should be aware that scammers are already using the media coverage of the settlement to exploit homeowners by promising quicker assistance in obtaining the refinancing, principal reduction, or cash payments available to eligible consumers under the settlement,” Horne said. “If you receive an unsolicited contact regarding the mortgage settlement, you need to protect yourself.”

Attorney General Horne’s alert includes these tips:   

  • Beware of anyone who claims they can speed up the assistance you might be eligible for under the settlement for a fee.  You will not be charged a fee to obtain relief under the settlement.
  • Beware of anyone who calls claiming to be from your mortgage servicer or the government and asks to confirm personal or financial information to speed up your relief under the settlement.  Neither your bank nor the government will ever ask for your routing number, checking account number, or other financial information over the phone.
  • You may receive legitimate mail from your servicer regarding the settlement if your mortgage loan is serviced by Bank of America, JP Morgan Chase, Wells Fargo, Citi, or GMAC/Ally.  If you do receive a call or mail regarding the settlement, examine it closely to determine whether it is from the same entity you make your mortgage payments to.  Scammers often use company names very close to another company to confuse and deceive consumers.  (For example, instead of a letter from GMAC, you may receive a letter from GAMC).
  • If you are unsure whether a caller is legitimate, ask for the person's name and title and tell them you are going to call your bank and confirm.  Make sure to use the official contact information listed below, not a number the caller provides.
    • Bank of America: 877-488-7814
    • JP Morgan Chase: 866-372-6901
    • Wells Fargo: 800-288-3212
    • CitiBank: 866-272-4749
    • GMAC/Ally: 800-766-4622
  • If you are looking to refinance or get a loan modification, remember that it is against state and federal law to charge upfront fees for mortgage-related assistance in most cases.

Consumers who feel they have been a victim of mortgage fraud, or who would like to report consumer fraud, may file a consumer complaint with our Office.  To file a complaint online, consumers can visit:www.azag.gov/consumer/complaintform.html

For more information about the national mortgage settlement, visit www.azag.gov/consumer/foreclosure/settlement.html or contact the Attorney General’s Mortgage Settlement Team at 602-542-1797 or 1 (855) 256-2834 toll free or [email protected]

To find out if you are eligible for relief under the national mortgage settlement, contact your mortgage servicer at the number listed above, or a HUD-certified housing counselor.

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  • I got an eviction notice for non-payment of rent. I filed ch.7 bankruptcy and my rent is due 6/1, but i'm moving out so do i have to pay my 6/1 rent?
  • I receive child support and am filing Chapter 7 bankruptcy due to disability. Do I claim child support as income?
  • I filled for chapter 13 myself without an attorney. Where can I find information on how I would respond to a Motion to Vacate Automatic stay
  • Can I file without an attorney all I have is credit card debit. and where can I get the paperwork?
  • I am currently unemployed and found it very difficult to find work. I'm reaching the end of my rope with all my bills being extremely late and even though I haven't received a notice yet, I'm expecting a foreclosure notice. I would like to talk to an attorney about what my options are at this point. Thanks Alex
  • Who is the filing fee made out to?
  • My mother and father n law paid off a loan on a house I had before I married my ex husband never wanted a payment until I made him leave he was doing drugs he moved in with them then lost his job been in jail since. he supposed to pay half and me.He will never have to I was asingle mother for 14 years had to go on disability tok backtime money and got my house made all those payments and paid down 11,600 I draw ss now I have to pay them? I owe for my sons car I signed with he had surgery in school 19plus I have 3 loans.I have a son in college what do I file what do I do??what to file...Unfair!
  • Should I file for bankruptcy if I cannot pay my debts?
  • I only have one car loan as far as debt. I only get child support as far as income ($300). I go to school full time. A year ago the house I was renting burnt down. It was an accident on my son's(17) part. I have received a bill for about $170,000 to repay the damages. Would Bankruptcy be an option? Can I file with only having this one bill? Would I lose my car since that is all I own now? Do I wait till the bill is older since I just got it?
  • Does your (401K ERISA) remain exempt when filing BK7 if you pledged it as collateral to a private loan you made with someone?

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