Industry NewsMortgage

California targets foreclosure scams

State requiring $100,000 bond by July 1
Published on Jun 2, 2009

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by CareyBot

Saying California is "awash with con artists" who prey on families facing foreclosure, the state's attorney general is giving foreclosure consultants until July 1 to register with his office and post a $100,000 bond.

California Attorney General Jerry Brown said scam artists are posing as legitimate foreclosure consultants, promising homeowners they will prevent foreclosure but charging "huge up-front costs" without providing "an ounce of help."

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