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02/22/11

Complaints Filed Against Florida Firms that Help Stop Foreclosure

"Regulators in Florida have reported that complaints against foreclosure rescue businesses or those firms specializing in helping borrowers stop foreclosure are still coming in despite new laws designed to weed out illegal activities by such companies. According to authorities, rescue firms and even some law firms specializing in mortgage modifications are charging borrowers with upfront fees. 

As the number of foreclosure Hollywood home auctions and foreclosure sales in various markets of Florida increased, the number of rescue companies also jumped considerably in the area. This also led to more cases of fraud wherein these businesses reportedly charged homeowners for services that were not even provided. To stop such practices, legislators in Florida enacted laws that prevent rescue firms from charging upfront fees."  [...]

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