Memphis company taking money from families - WMC Action News 5 - Memphis, Tennessee

Reported by Nick Kenney

Memphis company taking money from families

MEMPHIS, TN (WMC-TV) - The Tennessee Attorney General said there is a company in Memphis taking advantage of  people caught up in the Economic Crisis. The company is accused of taking thousands of dollars from families.

With home foreclosure skyrocketing everywhere, the Tennessee State Attorney General is focused on filing suit against companies he said take advantage of a vulnerable situation.
 
Angie and Avery Wright are just trying to hold on.

"He lost his job, and it really became difficult," Angie Wright said.

The couple bought their first house two years ago. But now they are about to lose their three bedroom, two bathroom dream home.

"It's been very frustrating," Avery Wright said.

The Wrights said they got a phone call out of the blue from a company promising to save their home if the Wrights' paid them three hundred bucks up front.

The Wrights' paid up, plus several hundred more over the next few months. But they are still in foreclosure.

"Well they really didn't do anything according to my mortgage company. They didn't do nothing but make a phone call," Angie Wright said.

The company is called Patrick and Patrick Loss Mitigation.Its website includes a list of testimonials thanking the company for saving homes.

"Someone's going through the newspaper. And you're a mark. They're just trying to see if they can squeeze a little money out of you," Tennessee Attorney General Bob Cooper said.

Cooper has filed suit against the company under Tennessee Consumer Protection Act. He said it was preying upon people in dire straits.

"Enticing people into foreclosure rescue agreements, taking their money, and then not providing them these services," Cooper said.

The Wright's said they just want their money back.

"It has been a great big headache. We lost a thousand dollars that we don't have to begin with to get caught up on our mortgage," Angie Wright said.

Cooper's lawsuit is after three goals. To stop the companies from violating the law, to seek restitution and to impose civil penalties.


Click here to e-mail Nick Kenney.

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