The US President Obama mortgage relief program, his photo and federal logos are used by cheaters to grasp bogus charges from homeowners trying to stop foreclosure. The suspicious loan modification companies are maintaining link with the Obama administration $75 billion program to aid stressed homeowners trim mortgage payments nationwide.
The mail solicitations are used by hucksters to foreclosed homes in official looking letters that make reference to Obama program. They suggest agreeing an Obama loan modification with a big amount but almost nothing is done to get expenses lesser.
The problem has blown up and the Treasury Department said news of loan modification and foreclosure salvage scams raised from 41 in 2004 to 3,080 last year. Attorney General Andrew Cuomo has planned 213 mortgage rescue firms to stop their fake services after probers found that many collected illegal fees and failed to help homeowners.
The mail solicitations are used by hucksters to foreclosed homes in official looking letters that make reference to Obama program. They suggest agreeing an Obama loan modification with a big amount but almost nothing is done to get expenses lesser.
The problem has blown up and the Treasury Department said news of loan modification and foreclosure salvage scams raised from 41 in 2004 to 3,080 last year. Attorney General Andrew Cuomo has planned 213 mortgage rescue firms to stop their fake services after probers found that many collected illegal fees and failed to help homeowners.
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