Feds cracking down on loan mod companies

[Jon Holdman]

We've had quite a lot of discussion lately about loan modification companies. Such as this thread. I've contended, and continue to contend, that most of these companies are, at best, useless, and at worst, scams. Apparently, Treasury Secretary Tim Geithner agrees: "These predatory scams callously rob Americans of their savings and potentially their homes".

Yahoo news article. The article also says "Officials say such operations almost always are fraudulent, and that help is available for free from government-approved housing counselors." Emphasis mine.