When Stacey Sproul went shopping for a home mortgage, a friend tipped her off to the “great rates” offered by Quicken Loans. But Quicken gave her so much more than she asked for, and its actions threatened to lower her credit score. “Hey Quicken Loans, I asked you not to run my credit. What gives?”
One of the great tragedies of the Great Recession of 2008 was the way in which many of the victims were victimized again. I’m talking about the millions of hardworking Americans who fell for a bogus mortgage modification or foreclosure relief service.
The predatory companies that offered these services charged distressed homeowners up-front fees and made false promises that they could get their loans modified or prevent foreclosure. Sadly, vultures like these are still everywhere, waiting for an opportunity to take your money — or your house.
It’s taken almost two years, but now the government is finally doing something about these fraudulent operations.
“Government continues crackdown on bogus mortgage modification services”