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12/15/11

FTC Settlement Requires "U.S. Homeowners Relief" Defendants to Pay Millions, Bans Them from Debt and Mortgage Relief Business

The FTC approved $9.6 million in settlements against several suspected mortgage rescue scammers. The settlement orders five of the defendants to pay back money to affected homeowners and bans all six of the defendants from offering mortgage assistance or debt relief services in the future.

In its complaint, the FTC alleged the defendants claimed to be affiliated with the government, charged upfront fees for promises to reduce mortgage payments, offered money-back guarantees that were never honored, and ignored customers once they had taken their money.

NOTE: Consent orders are for settlement purposes only and do not constitute an admission by the defendant that the law has been violated. Consent orders have the force of law when approved and signed by the District Judge.

Read the full FTC Press Release here: http://www.ftc.gov/opa/2011/12/ushomeowners.shtm