Mortgage company files for liquidation - Spokane, North Idaho News & Weather KHQ.com

Mortgage company files for liquidation

COEUR D'ALENE, Idaho. - A Coeur d'Alene mortgage modification company has filed for bankruptcy.

Apply 2 Save Inc., which said it could negotiate restructured mortgages for homeowners facing foreclosure, closed its doors last month. The company filed for liquidation in U.S. Bankruptcy Court on Tuesday, listing assets of $5.2 million and $7.8 million in liabilities, with most of the liabilities in the form of employees seeking back wages and clients who say they didn't get what they paid for when they sought the company's intervention.

The state of Idaho sued Apply 2 Save in Kootenai County District Court in April, contending the company preyed on desperate homeowners.

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