SIGTARP SHUTS DOWN 85 ONLINE MORTGAGE MODIFICATION SCAMS ADVERTISED ON GOOGLE

SIGTARP SHUTS DOWN 85 ONLINE MORTGAGE MODIFICATION SCAMS ADVERTISED ON GOOGLE

WASHINGTON, DC – November 17, 2011 – (RealEstateRama) — The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) today announced that it has shut down 85 alleged online mortgage modification scams that prey on vulnerable homeowners through Web banners and other Web advertisements. SIGTARP investigates mortgage modification schemes in which companies charge struggling homeowners a fee in exchange for false promises of lowering the homeowner’s mortgage through TARP’s housing program known as the Home Affordable Modification Program (HAMP). Google, in cooperation with an ongoing criminal SIGTARP investigation of these scams, has suspended advertising relationships with more than 500 Internet advertisers and agents associated with the 85 alleged online mortgage fraud schemes and related deceptive advertising.

SHARE

Oregon RealEstateRama is an Internet based Real Estate News and Press Release distributor chanel of RealEstateRama for Oregon Real Estate publishing community.

RealEstateRama staff editor manage to selection and verify the real estate news for State of Oregon.

Contact:

Previous articleCorker Calls Renewal of Federal Housing Loan Limits to Subsidize Expensive Mortgages “Unconscionable,” Will Oppose Spending Package
Next articleTreasurer McCord Lauds Federal Government’s Recognition of AFC First Financial; Says Future Keystone HELP Projects Will Benefit