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FTC's Advance Fee Ban Takes Effect & Other FTC Resources

As of January 31, 2011, under the FTC's Mortgage Assistance Relief Services (MARS) Rule, companies that offer to help homeowners get their loans modified or sell them other types of mortgage assistance relief services are no longer allowed to charge up-front fees.  Under the rule, a mortgage assistance relief company may not collect a fee until the consumer has signed a written agreement with the lender that includes the relief obtained by the company. 

For an overview of MARS Rule, click here.

For further resources on mortgage assistance relief, please see these resources: