Foreclosures Have Spawned Mortgage Fraud

Foreclosures have spawned mortgage fraud – the latter keeping pace with the increase in foreclosures. The situation being volatile the troubled homeowners desperate to keep their homes are clutching at any straw they can lay hands on. This has led to the surfacing of firms preying on the vulnerability of thousands. This has led to the public raising questions about what the Federal Trade Commission has been doing about it.

The FTC has not been sitting idle and recently pulled down the curtains on another so-called foreclosure rescue operation that supposedly had talked big about helping to modify loans and provide relief from foreclosures. So far FTC has brought 17 legal suits during the previous 11 months. The goal is to help the troubled homeowners. More action is being planned.

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