The defendants in two separate alleged scams have settled charges with the Federal Trade Commission and will be banned from providing mortgage- and debt-relief services. The cases are part of the FTC’s continuing crackdown on scams targeting consumers in financial distress, including debt relief and credit repair scams, and mortgage relief scams. American Mortgage Consulting …
Under the heading of what not to do, this one is right in that playbook. American Mortgage Consultants and Home Guardian Solutions were charged by the FTC for not allegedly not doing nice things to consumers. One of the defendants, Mark Nagy Atalla allegedly violated “nearly every provision of the Mortgage Assistance Relief Services Rule” …
The FTC alleged that since early 2011, the defendants claimed a phony affiliation with the U.S. government, pretended to be attorneys, and promised to substantially lower monthly mortgage payments in exchange for an up-front fee ranging from $1,495 to $4,495. Along with two companies he controls – American Mortgage Consulting Group, LLC and Home Guardian …