A Winston-Salem man who promised to help homeowners avoid foreclosure can no longer collect money from consumers for foreclosure assistance or loan modifications.
Last week, Wake County Superior Court Judge Howard Manning agreed with the North Carolina attorney general's request to temporarily bar Edward "Eddie" Phillip Long Jr., doing business as Credit Enhancement Services, from offering foreclosure and loan modification services, and from charging advance fees for credit repair and credit score improvement services.
Attorney General Roy Cooper is seeking to permanently shut down Long's foreclosure assistance business and win consumer refunds and civil penalties. His office's Consumer Protection Division received six complaints about Long and his business.
According to the AG's complaint, Long claimed that he had extensive experience in the banking industry and that he was a professor of finance at N.C. A&T University. Neither is true, according to Cooper.
The complaint also alleged that Long promised to save customers' homes from foreclosure for an upfront fee ranging from $500 to $1,000. Under North Carolina law, it's illegal to charge an advance fee for foreclosure assistance or loan modifications.
If you suspect fraud by a foreclosure rescue company or if you have been charged upfront fees, call the AG's Consumer Protection Division at 877-566-7226. If you need help avoiding foreclosure, call a free hot line set up by the N.C. Commissioner of Banks. The hot line, 866-234-4857, is available from 8:30 a.m. to 8 p.m. Monday through Friday, and from 9 a.m. to 5 p.m. on Saturdays.