New Jersey Division of Consumer Affairs Takes Action Against Seven Illegal “Mortgage Loan Modification” Providers and Seek Restitution for Consumers

NEWARK, NJ – August 3, 2011 – (RealEstateRama) — Continuing the State’s on-going efforts to thwart fraudulent “mortgage loan modification” enterprises, Attorney General Paula T. Dow and the State Division of Consumer Affairs filed administrative actions against seven businesses for illegally offering mortgage modification services to homeowners in dire financial straits. State law requires that anyone providing these services in New Jersey be licensed as a Debt Adjuster by the Department of Banking and Insurance, or be otherwise authorized.