Recently the FTC passed new rules to protect consumers from deceptive mortgage relief providers who claim that for compensation they can help save a home from foreclosure or modify a mortgage. Below you will find a link to the final rule issued by the FTC with my highlights of what I felt was most important …
Homeowners will be protected by a new Federal Trade Commission rule that bans providers of mortgage foreclosure rescue and loan modification services from collecting fees until homeowners have a written offer from their lender or servicer that they decide is acceptable. “At a time when many Americans are struggling to pay their mortgages, peddlers of …
Here is a very interesting letter from the National Association of Attorneys General regarding new proposed rules by the FTC for mortgage assistance relief services (MARS). The loan modification industry has be filled with deception and abuse and many consumers have lost thousands when law groups promised results but did not deliver. Two recent failures …