Posts tagged as:

homeowner scam

FTC Obtains Court Order Halting Deceptive Mortgage Relief Internet Ads

by Moe Bedard

Marketers Falsely Claimed to Operate MakingHomeAffordable.gov
At the Federal Trade Commission’s request, a federal district court issued an order to stop an Internet-based operation that pretends to operate “MakingHomeAffordable.gov,” the official Web site of the federal Making Home Affordable program for free mortgage loan assistance. The FTC alleged that the defendants deceptively diverted consumers who searched [...]

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Scammed Hope Now Homeowners Left in the Cold?

by Moe Bedard

Just this last month, the FTC had issued court injunctions on two predatory loan modification companies. These companies were parading around advertising their services in a manner very similar to the 2008 Paulson formed Hope Now coalition of mortgage servicers dedicated to foreclosure prevention.
The Federal Trade Commission convinced a U.S. district court to order two [...]

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FEDERAL, STATE PARTNERS ANNOUNCE MULTI-AGENCY CRACKDOWN TARGETING FORECLOSURE RESCUE SCAMS, LOAN MODIFICATION FRAUD

by Moe Bedard

Civil Enforcement Cases, State Enforcement Actions, Alert to Financial Institutions Among New Efforts to Protect American Homeowners Seeking Relief

WASHINGTON – As homeowners and communities throughout the country continue to face devastating consequences from the deep contraction in the economy and the housing market, the Obama Administration today announced a new coordinated effort across federal and [...]

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Predatory Renting Extends its Grip to Apartments, Low Income Families

by Moe Bedard

The foreclosure crisis is something we can’t get away from if we tried. It’s on the television each night, in the newspapers and discussed actively online each and every day. And everyone’s got an opinion about the cause and the cure. But I’ve been writing on a different type of crisis, very much related to [...]

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Ohio Attorney General Sues Two Loan Modification Firms

by Moe Bedard

Ohio Attorney General Richard Cordray has filed a lawsuit against two Cincinnati-based foreclosure rescue companies accused of failing to deliver on their promises to save consumers from foreclosure. The suit, filed in the Hamilton County Court of Common Pleas, charges Foreclosure Assistance USA, Inc. (FA USA) and American Foreclosure Professionals, Inc. (AFP) with several violations of Ohio consumer protection law.

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Loan Modification Companies: Saviors Or Scams?

by Moe Bedard

I got an interesting email today asking about “loan modification companies.”
These have sprung up like crabgrass in the midst of the foreclosure crisis, many of them run by former subprime mortgage brokers or real estate brokers who don’t have much work these days.
One Google [GOOG  Loading...      ()   ] search, and they pop up instantly with [...]

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