Eight foreclosure assistance marketers have been banned from providing their services under settlements with the Federal Trade Commission. They face charges of using deception in their advertising efforts to attract desperate customers.
“…foreclosure assistance claims…”
Foreclosure Assistance
The individuals and companies involved allegedly made false claims to desperate homeowners seeking foreclosure help that they could help them get their mortgage loans modified and thereby help them avoid foreclosure on their homes.
The homeowners were charged sizeable sums up-front for the services offered. All of the homeowners targeted were in difficulties making their mortgage payments and were lured by promises of foreclosure relief.
“…foreclosure assistance marketers settle with FTC…”
The following defendants settled with the Federal Trade Commission:
Federal Loan Modification Law Center: An $11.5 million judgment was imposed against Steven Oscherowitz of the company.
Loss Mitigation Services: The settlement order bans Dean Shafer, Marion Anthony “Tony” Perry, and Bernadette Perry from selling mortgage and foreclosure relief services.
Hope Now Modifications: A figure close to £5.3 million judgement was imposed against Salvatore and Nicholas Puglia, but will be suspended when the funds from their frozen bank accounts is surrendered.
“…people desperate for foreclosure assistance…”
With more than 40 percent of homeowners who joined the Obama foreclosure assistance program having dropped out, some homeowners are turning to wherever they can for foreclosure assistance. When people are desperate, it is easy for others to prey on them.
Related Posts:
