FTC targets mortgage rescue scams

State AGs join crackdown on 178 companies

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The Federal Trade Commission today announced a coordinated national effort to crack down on mortgage rescue scams, with federal regulators and 23 state attorneys general taking action against 178 companies accused of deceptively marketing foreclosure rescue and loan modification services.

At a press conference Los Angeles with California Attorney General Jerry Brown, the FTC announced four new lawsuits, bringing to total number of mortgage foreclosure rescue and loan modification scam cases the Commission has brought since April to 14.