FTC shifting focus to loan modifications - wave3.com-Louisville News, Weather & Sports

FTC shifting focus to loan modifications

LOUISVILLE, KY (WAVE) – After years of focusing on home mortgage scams, the Federal Trade Commission is turning its sights on what it calls bogus loan modifications.

The FTC said fraud artists are moving from the mortgage loan modification schemes and targeting consumers who are underwater on their auto loans.

The government alleges some companies racked up hundreds of dollars in up-front fees for loan modifications that were never performed for customers.

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