Posts tagged "federal trade commission"
Mortgage Foreclosure Scams Targeted by FTC
With foreclosures up 75% in 2007 over the previous year, it didn’t take long for con artists to find a way to profit. In testimony to a U.S. Senate committee yesterday, Federal Trade Commission officials described scams in which borrowers typically pay thousands of dollars but end up losing their homes and the money.
This video by Freddie Mac describes what foreclosure fraud looks like and how to spot it:
The FTC has launched investigations in seven geographic areas. If you’ve been the victim or a target of mortgage fraud, you can file a complaint online or by phone in English or Spanish by calling 1-877-FTC-HELP.
