Feds, States Stomp Out Foreclosure Rescue Services

written by
1 · 16 · 12

Federal regulators, including the Consumer Financial Protection Bureau, are going all out to put a halt to firms that collect hefty fees while their clients still lose their homes.

States — including California, Florida and Illinois — have also been busy eradicating companies that collect up-front fees in return for promises that foreclosures will be halted.

Many foreclosure-rescue schemes purport to provide an investor who will buy a distressed homeowner’s property. But straw buyers are instead brought in and mortgage fraud is used to strip the equity.


Mortgage Daily Staff


Consectetur adipiscing elit dapibus, vulputate in donec tempor ultricies venenatis erat, aliquam posuere urna habitant.