California Regulator Continues Filing Record Number Of Enforcement Actions Against Upfront Fee Loan Modification Rackets

In Sacramento, California, the Centre Daily Times reports:

• The California State Department of Real Estate (DRE) warns consumers to be wary of promises for loan modification and mortgage relief as scammers continue to prey on vulnerable, financially stressed homeowners.

• The DRE, whose mission is to protect the public interests in real estate matters, continues to file record numbers of actions against persons illegally offering loan modification and loan mortgage relief services. The typical scam involves the assurance of a loan modification in exchange for an upfront fee, but once the fee is paid little or nothing is done to obtain a loan modification.

For more, see California Department of Real Estate Continues to Fight Loan Modification and Mortgage Relief Scams (Consumers warned not to pay upfront fees).