Posts Tagged ‘mortgage scams’

FTC targets scams aimed at Spanish speakers

May 28, 2009

“The Federal Trade Commission has charged a mortgage foreclosure “rescue” operation with falsely promising Spanish-speaking consumers who are behind on their mortgage payments that it would stop foreclosure. Many people who paid the defendants ultimately lost their homes, and others avoided foreclosure only through their own efforts. At the FTC’s request, a federal court temporarily halted the defendants’ practices and froze their assets. The FTC seeks to stop the deceptive claims and obtain consumer redress from the defendants, whom consumers have paid at least $3.3 million.”

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Jerry Brown going after homeowner scams

March 31, 2009

Addressing the growing wave of loan modification services that promise but don’t deliver assistance to homeowners burdened by mortgage payments they can no longer afford,  the California Attorney General promised in hearings held in Southern California to aggressively target these companies especially those advertising on television.

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