Foreclosure Rescue Rackets Tagged By Feds For Peddling Forensic Loan Audits & "Mass Joinder" Lawsuits Dodge Criminal Prosecution, Reach Civil Lawsuit Settlements
From a recent Federal Trade Commission press release:
- The defendants behind an alleged mortgage relief scam have agreed to settle FTC charges that they deceived cash-strapped consumers into believing they could hold onto their homes and reduce their mortgage payments by either suing their mortgage lenders in so-called “mass joinder” lawsuits or buying “forensic loan audits.”
All of the defendants, including two individuals and seven companies, will surrender assets and be prohibited from making deceptive claims about any product or service, and all but one are banned from marketing mortgage- and debt- relief services.
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