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Attorney General's News Release

July 25, 2012

Attorney General Koster sues loan modification company for unfair and illegal business practices

Jefferson City, Mo. – Attorney General Chris Koster filed a lawsuit today against William James Ray, III, a Florida resident offering mortgage loan modification services to Missouri consumers through his inactive Florida company, Ameristar Foreclosure Solutions, LLC.

The lawsuit alleges that Ray and Ameristar Foreclosure Solutions engaged in the following illegal activities in the state of Missouri:

  • Receiving advance payment for loan modification services;
  • Failing to provide loan modification services paid for by consumers through those advance fees;
  • Failing to refund consumers for loan modification services not provided;
  • Failing to include legally required notifications of homeowners’ rights in contracts between defendants and those homeowners.

“In these difficult economic times, Missourians need fair, honest mortgage modification consultants,” Koster said. “This office will continue to prosecute those who try to take advantage of homeowners trying to modify their mortgages.”

The Attorney General is seeking restitution for consumers plus penalties.

Koster is asking those who have contracted with William James Ray, III, or Ameristar Foreclosure Solutions, LLC, for loan modification services and failed to receive the promised services to contact the Attorney General’s Consumer Protection Hotline at 800-392-8222 or to file a complaint online at

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