FTC and DOJ doens't care about you or your home - 09/22/09 10:14 PM
The Loan Modification news site has a great article about the FTC and DOJ and explores if they are helping or in fact hurting homeowners.
There are countless stories about Obama's plan failing, and in case you have been living under a rock then let me update you. Obama's plan has failed miserably. Recently second-most powerful Democrat in the Senate called the Obama administration's mortgage modification program a "waste of time". Others are voicing their opinion at the banks for their un-willingness to help, and last but not least the FTC is going after the "pieces of shit companies" that actually … (1 comments)

Nations Housing Modification Center of San Diego closed being raided - 09/18/09 05:29 PM
abcnews.com is reporting that Nations Housing Modification Center (NHMC), is currently under investigation and has been closed since the FTC raided their offices following a report on Good Morning America and World News.
"In our case against the so-called Nation's Housing Modification Center, the malefactors guaranteed to modify mortgages," Liebowitz said. "They required a minimum upfront fee of $2500 or 3000 or more but they failed to deliver on those promises. And they made the situation worse by actually telling the people who signed up for them not to make any more mortgage payments - that resulted in some consumers losing … (1 comments)

FTC to ban charging monies for loan modification by years end - 09/18/09 03:47 PM
The move by the FTC comes as federal and state officials plan to expand a crackdown on loan modification scams to other schemes that prey on debt-ridden consumers.
From the article:
Working together, we can send a clear and straightforward message: If you perpetrate mortgage fraud . . . we will find you and we will charge you and we will put you in jail," U.S. Atty. Gen. Eric H. Holder Jr. said Thursday as top federal officials met with attorneys general from 12 states to coordinate those efforts.Federal officials have been working with state attorneys general nationwide since April to … (0 comments)

FTC goes after two more companies, update on Lucus, and more. - 09/17/09 06:19 PM
A press release earlier today from the FTC shows that they are not in fact starting to sleep but still actively going after those who are accused of scamming home owners into illegally paying upfront fees for loan modification services which are never completed.
From the press release:
Infinity Group Services and its president are charged with violating the FTC Act by falsely representing that they would obtain a loan modification in all, or virtually all, instances; that they would give full refunds if they failed to do so; and that they would obtain loan refinancing for an up-front fee of … (0 comments)

Loan Modification Companies- 4 Tips To Help You Find A Legitimate One - 09/16/09 09:38 PM
The current mortgage and housing crisis has resulted in an increased demand for loan modifications.  To meet this demand, new loan modification companies and services are cropping up everywhere.  While some of these services and companies are legitimate and may be able to help you with your loan modification, others are not.  There are scam artists out there looking to take advantage of struggling homeowners who are in fear of losing their homes.  They offer big promises and guarantees but are only there to take your money.  Other companies may not be out to scam you, but they really don't have … (2 comments)

 

Chris Parker

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