FTC Bans Eight Loan Mod Marketers

Posted by Orb Staff on July 27, 2010 No Comments
Categories : Residential Mortgage

ink=http://ftc.gov/opa/2010/07/lmshope.shtm]Federal Trade Commission[/link] (FTC) has banned eight marketers from selling loan modification or foreclosure relief services. The bans result from settlements the marketers entered into with the FTC. According to the FTC's allegations, the marketers charged homeowners up-front fees and falsely claimed they could get their mortgage loans modified or prevent foreclosure on their homes. The settlements in three separate actions are part of the FTC's ongoing efforts against loan modification scams. Companies named as defendants in the settlement include Federal Loan Modification Law Center, Loss Mitigation Services and Hope Now Modifications. A complete breakdown of the settlement actions can be found on the FTC website. SOURCE: [link=http://ftc.gov/opa/2010/07/lmshope.shtm]Federal Trade Commission

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