FTC Cracks Down On Foreclosure Fraud Operation

As many homeowners continue to have trouble meeting their mortgage payments, foreclosure scams have proliferated.


Saying it is cracking down on foreclosure scams, the Federal Trade Commission (FTC) broke up a national operation based in Florida that it says targeted financially distressed consumers using direct mail, the Internet, and telemarketing.  These borrowers were falsely promised loan modifications.

Giving an idea of how pervasive these foreclosure scams are, the state of Florida foreclosure prevention website, the Hardest Hit Fund, begins by warning about copycat websites. Website visitors, the Hardest Hit Fund website warns, should verify that the website is the official site before providing personal information. Application for and participation in the program is free.

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