FTC sends additional checks in mortgage modification case
The FTC is sending a third round of checks totaling more than $250,000 to people who paid First Universal Lending, LLC for mortgage modification services.
According to the FTC, First Universal Lending tricked homeowners with phony claims that the company would negotiate with lenders to modify their mortgages. The FTC says that the company encouraged homeowners to stop making mortgage payments so lenders would be more likely to negotiate. After charging homeowners up to $7,000 in up-front fees, the company did little or nothing to help them.
The FTC began mailing refunds in this matter in 2012. Because the FTC recovered additional money from the defendants, the agency is sending another round of checks. In total, the FTC has distributed more than $900,000.
If you get a check, please cash it within 60 days.
If you have questions, please call the refund administrator at 877-919-0836.