Federal Trade Commission (FTC) Chairman Jon Leibowitz was recently joined by California Attorney General Jerry Brown to announce the launch Operation is ready, "a coordinated national effort to combat the scourge title =" Mortgage Modification "> modification of mortgage scams.
The operation has already submitted 189 shares of 25 state agencies and cons of stores that use deceptive marketing of fraudulent loans to boost their Blocking bad or no rescue services and mortgage modification. Actions include owners around the country but have been announced in Southern California, where fraudulent companies were founded. "These thieves do predatory pricing as a high probability of getting people in danger," FTC Chairman Jon Leibowitz, he said. "They promise to save homeowners in financial trouble the waters, but after taking your money, drop anchor instead of a lifeline."
In connection with the announcement of the FTC elaborated on the four trials that together total rescue fraud and mortgage foreclosure title = "Loan Modification"> Should the loan Commission introduced from April to fourteen. During the four new trial, defendants are accused of:
- Making false statements will give them a title = "Home loan modification"> housing loan modification
- Affirming that, in connection with the loan modification, they would stop foreclosure proceedings
- Not fulfill the promises of reimbursement to the owners if the proposed action was not taken
The defendants are charged little or nothing to progress in modifying the loan process for their clients after receiving fees of approximately the same as a mortgage payment months.
Charges concrete against the defendants are:
- U.S. Foreclosure Relief made false accusations of delivery time for approvals and years of experience with success rates for their fictitious loan modifications. The owners received. They are also charged with violating the FTC does not call the rule because of their repeated contacts with the owners of the National Do Not Call Registry. Pending a hearing date, the assets of U.S. Foreclosure relief have been frozen.
- Lucas Law Center made false statements regarding their ability to obtain loan modifications. He said the owners to divert their payments mortgage repayment Lucas, a violation of the law. The company has provided refunds to some customers, but only after repeated complaints and requests assistance of the Better Business Bureau, Attorney General of California, the California Bar Association and / or local authorities. The court froze the assets Lucas Law Center, before a court hearing
- The Loss Mitigation services provided to owners of their changes in lending has been virtually assured since they were a department, or affiliates, consumer loans, mortgage or repair shop, a complete lie. Some owners have lost their homes waiting for changes that never happens.
- ยท Apply2Save argues that the changes could get loans done in thirty to ninety days, when in fact never got in touch with the owners of the lenders. To save time, Apply2Save told clients that the documentation was lost, often more than once.
Lies lending transaction follows the announcement of 6 April 2009, the chairman of the FTC's Leibowitz, Attorney Eric Holder, the Treasury secretary, Timothy Geithner, Housing and Urban Development Secretary Shaun Donovan, and the Illinois Attorney General Lisa Madigan is kill companies that have been created to defraud the owners seek changes in lending mortgage.
The four companies that offer valuable lessons on how homeowners can protect themselves from deceptive hiring a company will not deliver. In the case of U.S. Foreclosure Relief, a warning sign would be no speeches or affiliation with the U.S. government. U.S. Foreclosure Relief and of Apply2Save both launched as being able to obtain approvals from mortgage loan modification faster than any of its competitors. Owners should be aware that the amendment process has two sides, and that lenders are inundated with requests. Any promise of a quick change should be met with great skepticism. Lucas Law Center has advised customers to pay on behalf of your lender, a clear warning on their account of ethical and legal standards. Finally, the loss Claims Mitigation Services affiliations with lenders and guarantee approvals loan modification, and identifying red flags. Find the truth would have been easier to make a direct call the lender to verify the allegations.
Avoid problems faced by homeowners who are scammed by these companies is as simple as asking the right questions, who do the leg work, and knowing that if it sounds too good to be true, it probably is. Insist on working with a company that has already caused hundreds of loan modifications and can prove it. Visit the office and ask questions to what you feel comfortable. A loan modification is a big and important. Ensure your success doing their homework to avoid problems and give a better chance of staying at home.
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