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NC attorney general sues foreclosure firms

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CHARLOTTE -- North Carolina's attorney general has sued three companies that advertise help for homeowners facing foreclosure. The Charlotte Observer reported Friday that the lawsuits were filed earlier in the week against the Charlotte-area firms, contending they charged high fees. The lawsuits seek refunds for customers. The firms sued in Wake County Superior Court were American Mortgage Assistance in Fort Mill, S.C.; Home Assure and Metrolina Mortgage Relief of Charlotte. A law passed in 2005 forbids foreclosure assistance businesses from collecting fees up front. Michael Grieco of Home Assure said his company doesn't charge customers in advance and has helped more than 1,000 people. He said his firm collected fees from less than 10 percent of the customers. (Copyright 2008 by The Associated Press. All Rights Reserved.)

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