Tag: Real Estate and Mortgages

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The defendants behind an operation that allegedly preyed on vulnerable homeowners have agreed to settle Federal Trade Commission charges that they lured people into paying $1,995 or more by holding out bogus promises that they could help them avoid foreclosure and renegotiate their mortgages.
It’s the time of year when some people are crooning “Baby, it’s cold outside.”  Whether it’s winter or summer, proper insulation can keep things comfortable.  But how are consumers supposed to make heads or tails of competing claims when buying insulation?  That’s where the R-value...
A favorite trick for rip-off artists is to pretend to represent a trustworthy and respected organization. Today — and we mean that literally — we’re hearing from businesses that have received email exploiting the good name of the Federal Trade Commission.  We don’t want you to lose...
As part of its continuing crackdown on scams that target consumers in financial distress, the Federal Trade Commission obtained a settlement order resolving charges against a nationwide scam operating from the Dominican Republic and banning the defendants from providing mortgage assistance relief...
Here’s a first for you:  The FTC has released a series of ads created by its own staff and boy, are they bad.  No, we’re not channeling our inner Sterling Cooper Mad Men.  The goal is to help companies comply with their legal obligations by showing some of the questionable mortgage-...
Never underestimate the creativity of marketers attempting to separate cash-strapped consumers from their last dollar.  And never underestimate the FTC’s resolve to protect people from deception in tough economic times.  Those are just two points to take from recent FTC law...
The Federal Trade Commission won a $2.6 million federal court judgment against three defendants behind a scheme that charged consumers large upfront fees and failed to deliver the mortgage modifications they promised.
Imagine for a moment your ideal customer.  They consider their choices carefully before buying.  They keep their accounts current.  When service is top-notch, they spread the word to friends and family.  If there’s a glitch, they give you a chance to correct the problem before...
Last week saw FTC announcements involving allegations of foreclosure rescue fraud, deception aimed at people trying to resell their timeshares, complaints against payday lenders, and lawsuits against outfits claiming to help consumers behind on their car payments.  Is there a theme...
The FTC has filed another action against defendants who allegedly attempted to squeeze the last drop from homeowners already under water.  This case, however, involves a disturbing new variation on foreclosure "rescue" operations.
In celebration of Halloween — and with apologies to Edgar Allen Poe — here’s our take on what companies can do to make sure spooky business practices don’t come back to haunt them. Once upon a midnight lawful Pondering practices, good and awful, Reading through the U.S. Code For dos...
The FTC just announced more settlements with companies that falsely promised to help homeowners facing foreclosure. “Not relevant to our business,” you say? Think again.
“You can settle your credit card debt for pennies on the dollar without filing for bankruptcy.”For people struggling to stay afloat, Debt Relief USA’s national TV ads must have seemed like a lifeline.  When consumers called the company, representatives assured them that low monthly...
Savvy executives like to stay in the loop on FTC activities that could affect their industry.   They make it a habit to scan the headlines or check for relevant workshops or reports.  But there’s a third category of information a bit less understood: closing letters from BCP staff.In...
It’s called the MAP Rule — and it will help chart the course for people in the market for a mortgage by banning deceptive claims about mortgages in advertising and other commercial communications. If you’re in the mortgage business, it’s worth your time to find out more about the...
Homeowners in financial trouble aren’t getting a lot of great news these days.  But 450,177 of them will be getting a check in the mail that represents their share of the FTC’s $108 million settlement with mortgage giant Countrywide. And companies that take advantage of Americans...

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