(Source: Bloomberg Businessweek) – Virginia has reached a settlement with one mortgage loan modification company and sued another.Attorney General Cuccinelli said Thursday that he’s settled a lawsuit against Virginia Beach-based Real Estate Resolutions, which was accused of charging illegal advance fees for “foreclosure rescue” services. The company agreed to refund more than $1,500 to five consumers and pay a $2,500 civil penalty. The company must cease collecting advance fees.

Source: Bloomberg Businessweek

August 25, 2011, 5:03PM ET

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