With foreclosures on the rise in California, loan “rescue” scams are proliferating in the state and around the country. Distressed homeowners seeking mortgage relief are increasingly being ripped off by companies promising – and then failing to provide – loan modification help. We’ll find out how the scams operate, and examine legislation pending in Sacramento aimed at cracking down on them.
- More: Fraud Warnings for California Homeowners in Financial Distres – brochure prepared by the Department of Real Estate [pdf].