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Eight loan modification marketers banned by FTC

Eight marketers are banned from selling mortgage modification or foreclosure relief services under settlements with the Federal Trade Commission.

The FTC alleged that the marketers charged homeowners up-front fees and falsely claimed they could get their mortgage loans modified or prevent foreclosure on their homes. The settlements in three separate actions are part of the FTC’s ongoing efforts against scams that target financially distressed consumers.

The FTC settled with the following defendants:

  • Federal Loan Modification Law Center. Steven Oscherowitz settled FTC charges that he and others advertised and sold a so-called “Federal Loan Modification program.” They charged up to $3,000, much of which they required up-front, but Federal Loan Modification often failed to live up to the promised results, according to the FTC’s complaint.
  • Loss Mitigation Services. Dean Shafer, Marion Anthony “Tony” Perry, and Bernadette Perry, also known as Bernadette Carr and Bernadette Carr-Perry, settled allegations that they falsely promised that a loan modification was assured or virtually assured if consumers paid an advance fee of up to $5,500.
  • Hope Now Modifications. Brothers Salvatore and Nicholas Puglia, Hope Now Modifications LLC, and Hope Now Financial Services Corporation settled FTC charges that they falsely claimed that they could obtain mortgage loan modifications in all or virtually all cases and would refund consumers’ money if they failed, and that they were affiliated with, or part of, the HOPE NOW Alliance, a free federal homeowner assistance program.

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Source: http://ftc.gov/opa/2010/07/lmshope.shtm

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Technorati Tags: loan modification scam, loan modification marketers, mortgage relief scam, Federal Loan Modification Law Center, Steven Oscherowitz, Loss Mitigation Services, Dean Shafer, Marion Anthony Perry, Bernadette Perry, Bernadette Carr, Bernadette Carr-Perry

Related posts:

  1. Loan modification company banned from doing business in Oregon
  2. Loan modification scammers hitch a ride on Obama coattails to lure homeowners

Tags: Bernadette Carr, Bernadette Carr-Perry, Bernadette Perry, Dean Shafer, Federal Loan Modification Law Center, loan modification marketers, loan modification scam, Loss Mitigation Services, Marion Anthony Perry, mortgage relief scam, Steven Oscherowitz

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