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Mortgage scammers - you better watch out!

04/06/09 21:27

Treasury Secretary, Tim Geithner isn't messing around when it comes to those preying on the weak and and vulnerable during this economy crises.

The financial crimes unit of the Treasury is going to send financial institutions a checklist for picking out suspicious loan activity and possible foreclosure rescue scams.

The FTC has been looking at advertising for mortgage foreclosure companies and have already found 71 companies running suspicious ads. One company who spent $9 million in radio and TV ads in less than one year, is now facing a civil case filed by the FTC.

Link: Government announces crackdown on mortgage scams - Apr. 6, 2009

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