Mortgage Relief Cos. To Pay $4M To End FTC Scam Claims

Law360, New York (January 14, 2014, 6:14 PM EST) -- The Florida-based defendants in a Federal Trade Commission lawsuit over an alleged mortgage relief scam will pay $3.6 million, surrender their assets and be banned from providing mortgage relief and debt relief services in order to settle the suit, the FTC said Tuesday.

The FTC said the settlement is the largest judgment to date against a purported mortgage assistance relief provider. In 2012, as part of the Distressed Homeowner Initiative, a multiagency federal enforcement crackdown, the FTC said it charged 11 companies and five individuals with...
To view the full article, register now.