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Maryland law designed to protect homeowners from so-called foreclosure rescue scams has paved the way for recent judgments in favor of property owners, including one of the largest for more than $700,000 to an Ellicott City woman.
Susan Spicer, the homeowner, won her case late last month in Baltimore County Circuit Court against foreclosure consultant New Town Properties LLC and lender Royal Financial Services Inc. Her lawsuit accused the Owings Mills companies and principal Robert Hurd of stealing the equity in her home through a scam.
In typical foreclosure rescue scams, which became more common during the recent housing boom and bust, homeowners facing foreclosure with equity in their homes are tricked into turning over the title to their properties, often believing they can pay rent temporarily then regain title. Spicer’s lawsuit was filed under the Protection of Homeowners in Foreclosure Act, passed several years ago.
