Rep. Woody Burton (R-Greenwood) recently took part in a ceremony detailing how thousands of homeowners who were victims of fraudulent escrow accounts will now receive restitution. Homeowners who trusted American Escrow to make their tax and insurance payments on time, discovered their escrow accounts were drained and taxes and insurance bills left unpaid, through no fault of their own. Last session, House Enrolled Act 1332 was passed by the Indiana General Assembly to provide victims of American Escrow's fraud the opportunity to receive compensation. In addition, House Enrolled Act 1332 states that only a financial institution or title insurance company can maintain a borrower's escrow account and prohibits other entities from doing so. Attorney General Greg Zoeller congratulated Rep. Burton and the other legislators who worked to pass the bill this last session. "It is unfortunate that people get taken advantage of, but I am glad to see stricter legislation enacted that will keep out the rotten apples," said Rep. Burton. "People are hurting enough, let alone when they are taken advantage of through their escrow accounts. The legislation we worked to get passed this last session is strong and meaningful, which will end up helping many homeowners in the future." Homeowners affected by American Escrow's fraud need to file a complaint with the Attorney General's office no later than Monday, April 26 to qualify for restitution. Complaint forms can be found online at http://www.indianaconsumer.com/ or call 1-800-382-5516 to request a form by mail. |
