New York Attorney General Andrew Cuomo expanded his investigation on mortgage rescue companies that abuse homeowners. Cuomo send 182 seal down letters to companies that list themselves as mortgage rescue companies. Cuomo said he sent out another 31 letters to mortgage rescue companies to end all illegal behaviors.
Cuomo said the companies regularly gather fees illegally from people on the verge of losing their homes to stop foreclosure. Then the companies failed to help them decrease their mortgage payments.
Cuomo said thousands of New Yorkers have been distressed by mortgage rescue scams. Upto 64,778 homes have been foreclosed on in New York since May 2010. Many The rescue companies fail to aid consumers in lowering their mortgage payments or saving their homes.
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