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David -- Can you get much lower than preying on
individuals facing foreclosure?
Last week, my office put a real estate company out of
business after it tried to illegally scam Washingtonians facing
foreclosure.
Kirkland- and Portland-based Real Estate Investment
Network, LLC (REIN) tried to rip off foreclosed homeowners out of
equity amounting to tens of thousands of dollars in surplus funds after
sales. REIN approached 35 consumers as part of their deceptive scheme,
and they had unlawful contracts with 16 of these consumers. REIN tried
to charge a Buckley farmer $90,000 in unlawful fees.
REIN just entered into a legally binding agreement to
dissolve. In addition, the company’s principals will pay up to $85,000
for their conduct.
Under no circumstances should any consumer in Washington
be taken advantage of by a company. That’s why I’m fighting as your
Attorney General to enforce the Consumer Protection Act and hold
powerful interests accountable.
Foreclosure is stressful enough without scammers taking
money rightfully owed to homeowners. My office will continue to be a
watchdog for these consumers and for every injustice committed against
Washingtonians.
Best,
Bob
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