During the foreclosure crisis, many homeowners were victimized by foreclosure-rescue fraud, deceptive credit services or home loan practices. Many consumers then filed complaints with the Attorney General’s Office.
“Foreclosure puts so many families in a fragile position. It is unacceptable how these families are taken advantage of by foreclosure fraud, and was one of the reasons why I co-authored legislation establishing the Consumer Protection Assistance Fund,” said Rep. Speedy. “I am grateful to join Attorney General Zoeller, along with some of my fellow legislators, in presenting victims with an option to set them down the path towards financial recovery.”
Default judgments against companies do not often result in the victims receiving any payments for their financial losses. In order to help those who reported these types of violators to the state, the 2011 Indiana General Assembly passed legislation creating the fund.
Legislators, including Rep. Speedy who served as co-author, passed legislation allowing the money to originate from funds recovered from companies sued by the attorney general for violating consumer protection laws.
State Reps. David Frizzell (R-Indianapolis), Randy Frye (R-Greensburg), Woody Burton (R-Greenwood), Sen. Pat Miller (R-Beech Grove) and two victims receiving help from the fund were also present during today’s announcement.