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Loan Modification

: The Truth About Mortgage.com

FTC Bans Advance Fees on Loan Modifications and Other Foreclosure Relief

By scot184

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By year-end, so-called “mortgage foreclosure rescue” and loan modification firms will be prohibited from collecting fees until homeowners have a written offer from their mortgage lender or loan servicer that they deem acceptable. The FTC today issued the ?Mortgage Assistance Relief Services (MARS) Rule? to protect homeowners from ?bogus operations? that falsely claim they’ll negotiate a [...]

Full post as published by The Truth About Mortgage.com on November 19, 2010 (boomark / email).

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