California is cracking down on licensed brokers involved in alleged foreclosure modification scams.
To date, the California Department of Real Estate reports over 775 licensees had their license revoked or simply surrendered their licenses while facing accusations.
The downturn in the real estate market is a big reason disciplinary actions are up.
“With so many people struggling to stay in their homes, foreclosure rescue and loan modification scams have risen dramatically,” DRE Commissioner Jeff Davi says.
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