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Scammers are using President Obama’s mortgage relief program – and his photo – to squeeze bogus fees from homeowners trying to avoid foreclosure.
Across the country, dubious loan modification firms are claiming affiliation with the Obama administration’s $75 billion program to help struggling homeowners trim mortgage payments.
Some are running websites with photos and video of Obama and the logos of federal government agencies.
“They sort of play on people’s desperation,” said Lionel Ouellette of the Brooklyn-based nonprofit housing advocacy group Changer. “They exploit people’s trust.”
Read more from NY Daily: http://www.nydailynews.com/money/2010/07/26/2010-07-26_scammers_rake_in_fees_promising_obama_plan_help_on_foreclosures_mortgage_cons_ba.html#ixzz0un9sv3yw
