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FTC Returns $2.3 Million to Consumers; Mortgage Foreclosure Rescue Scam Victims Receive Full Refunds

WASHINGTON, D.C. – April 15, 2011 – (RealEstateRama) — An administrator working for the Federal Trade Commission has mailed 1,410 refund checks to consumers allegedly defrauded by Home Assure LLC, a so-called mortgage foreclosure rescue service. The FTC alleged that the company charged consumers an up-front fee and falsely claimed its special relationships with lenders would enable it to get favorable loan modifications or stop foreclosure. A settlement order imposed a monetary judgment and banned the company from selling mortgage loan modification and foreclosure relief services.

Approximately $2.3 million is being returned to consumers, which represents the total amount of money consumers paid in this scam. The amount of each check will vary based upon the amount each consumer paid. Consumers who receive the checks should cash them by early June, 2011. The FTC never requires consumers to pay money or provide information before redress checks can be cashed. Home Assure customers with questions should call the redress administrator, Analytics Inc. at 866-890-4856 or visit the FTC’s refund website.
The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them.  To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357).  The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 1,800 civil and criminal law enforcement agencies in the U.S. and abroad.  The FTC’s website provides free information on a variety of consumer topics.  “Like” the FTC on Facebook and “follow” us on Twitter.

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Category: News || Foreclosures, Mortgage



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