Federal and State Agencies Stop Phony Mortgage Relief Schemes

Mortgage relief fraud schemes are still around, according to the federal trade commission.. Acting on a complaint by the F.T.C., a federal court has halted a mortgage relief operation that the commission accused of taking in more than $1 million by offering troubled homeowners "bogus" help in staving off foreclosure.

Trouble Making Payments page for the VA Loan Guaranty Service.. In order to help veterans in serious financial trouble, VA Regional Loan. 1990, you will owe the Government in the event of a default if there was fraud, A third method is used in States where there is a long foreclosure or mortgage redemption period.

The scheme employed about 100 people. The group operated "a business permeated by fraud. mortgage payments by up to 40 percent, the agency said. Residential Relief Foundation claimed a high success.

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Mortgage rates slide lower, but Americans are. What you should know about an FHA loan FHA Loans only require a 3.5 percent down payment with a 580 credit score. They are insured by the Borrowers are required to pay mortgage insurance (mip) monthly, usually around 0.85 percent of the loan amount annually. If a borrower defaults on an FHA.

Federal Trade Commission (FTC) The Federal Trade Commission in April 2009 announced a crackdown on fraud and deception by mortgage modification and home foreclosure rescue companies. The FTC is seeking to halt the proliferation of these mortgage relief scams through increased law enforcement and consumer outreach. The commission also plans close coordination with federal, state, and non-profit partners. The Commission’s Bureau of Consumer Protection can be reached by calling 202-326-3224 or.

State. by 25 federal and state agencies to shut down firms that are deceptively marketing foreclosure rescue and mortgage-modification services. These companies often do little or nothing to help.

Los Angeles – As part of a massive federal-state crackdown on loan modification scams, Attorney General Edmund G. Brown Jr. at a press conference today announced the filing of legal action against 21 individuals and 14 companies who ripped off thousands of homeowners desperately seeking mortgage relief.

The Home Equity Theft Reporter: Florida Man Gets 60 Months For Duping Victims Into Borrowing Against Their Home Equity In $2M Ripoff Clinton Tries a Different Debate Debate. By Perry Bacon Jr. SOUTH BEND, Ind. — Sen. Barack Obama says he’s done debating, but he’s facing a double team effort to force him into another one-on-one session with sen. hillary rodham clinton. The New York senator again challenged him to a debate in Indiana, but with a new twist: no moderators.

NEWARK NJ-A Nutley, New Jersey, man was sentenced today to 24 months in prison for his role in a massive mortgage fraud scheme involving. With more than 20 federal agencies, 94 U.S. Attorneys’.