CFPB Legal Action Halts Two Alleged California Mortgage Scammers
Credit Union Times
December 11, 2012
The Consumer Financial Protection Bureau has announced actions to stop two alleged mortgage modification scams the reportedly swindled thousands of struggling homeowners. According to the agency, the scheme took in more than $10 million total by charging customers for services that falsely claimed to stop foreclosures or renegotiate at-risk mortgages. "We are taking on schemes that prey on consumers who are struggling to pay their mortgages or facing foreclosure," said director Richard Cordray. "We are especially concerned with those who misrepresent government programs or websites to divert distressed homeowners from needed assistance. At the behest of the CFPB, federal judges in California have ordered both the Los Angeles-based Gordon Law Firm and the Santa Ana-based National Legal Help Center to cease operations and have frozen their assets while the CFPB takes actions on both cases.
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