TARP Watchdog Terminates Online Mortgage Loan Scams

Law360, New York (November 21, 2011, 10:34 PM EST) -- The watchdog overseeing the federal government's Troubled Asset Relief Program said Monday that it shut down a wave of online mortgage modification scams perpetrated through advertisements on Yahoo Inc. and Microsoft Corp.'s search engines as part of an ongoing criminal investigation.

The scammers charge homeowners a fee in exchange for false promises of lowering the victim's mortgage through TARP's Home Affordable Modification Program, according to the Office of the Special Inspector General for the Troubled Asset Relief Program.

In the past week, SIGTARP has shut down...
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