Cease & Desist Order Issued Banning Fraudulent Foreclosure Property Listings

Allison Tussey —  May 4, 2009 — 1 Comment

Jordan Printing Corporation, Norwalk, Connecticut, and its principal, William B. Steiger, Jr., doing business under the names ForeclosureTown.com, Foreclosureworld.com, and a laundry list of other websites relating to the Internet listing of properties purported to be foreclosure properties listed in North Dakota and throughout the country, have been issued cease and desist orders.

In North Dakota, ForeclosureTown.com lists 853 properties in the Bismarck, North Dakota area and 675 properties in the Fargo, North Dakota area that it claims are in foreclosure. The pictures listed are not the actual pictures of the properties. According to North Dakota Attorney General Wayne Stenehjem, who made the announcement, the website listings are merely a ruse to sell memberships for a free 7-day trial period wherein consumers’ bank accounts or credit cards are automatically charged. Consumers cannot access any of the listings until they have purchased a membership. The entity also tries to enroll consumers in a “foreclosure school” for $297.

“Foreclosure.com’s listings of hundreds of properties in North Dakota are blatantly ridiculous. In fact, the latest national report shows there are only about 120 properties in foreclosure across the entire state*. Unfortunately consumers outside of North Dakota might not realize this and could be unwittingly conned into useless memberships,” Stenehjem said. “I’m concerned about the possibility of many fraudulent listings for other communities throughout the country.”

These entities have a history of consumer complaints indicating a pattern of questionable conduct throughout the nation. Consumers have filed 252 complaints against Jordan Printing with the Connecticut Better Business Bureau in the last 36 months alone. Additional Internet complaints also show consumers are unhappy with ForeclosureTown.com‘s practices. A Minnesota consumer reported on the Internet that his home was falsely reported on this site as a foreclosure property when he had never been late on a payment during 20 years.

According to Parrell Grossman, Director of the Attorney General’s Consumer Protection Division, he attempted to contact Jordan Publishing about the misrepresentations on ForeclosureTown.com‘s website, but his telephone call was not returned. “It’s not illegal to sell memberships, even if they have little or no value, but you can’t use misrepresentations to deceive consumers in the process,” Grossman said.

Be Sociable, Share!

Allison Tussey

Posts Google+

One response to Cease & Desist Order Issued Banning Fraudulent Foreclosure Property Listings

  1. Foreclosure expert May 6, 2009 at 12:41 am

    It just seems a new kind of tricks to raise funds, how these people can ensure the members to get profit without giving access to the listed property. It is a right decision to ban the working this way.

Leave a Reply

Text formatting is available via select HTML.

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>