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Foreclosure Scams Targeted In U.S., State And Local Crackdown 2009-07-16 16:26:41 (54 weeks ago) Posted By: Intellpuke (Read 451 times || 0 comments) Under Operation Loan Lies, 189 lawsuits, cease-and-desist orders and other legal actions have been filed in 20 states. In Southern California, prosecutors  have moved against 14 firms and 21 people. For Rene Ruelas, the calls came faster than weeds sprouting in the yard of an empty house. Foreclosure was looming for the Buena Park home that Ruelas shared with his wife, Rose, and four children. The longshore mechanic was headed into his fourth month without a paycheck because of a workers' compensation dispute as he recovered from his second knee surgery in a year. He was desperate. "They made it seem so simple," he said of the telephone solicitations that began late last year. "They said they were given my information from the bank and that I just had to pay the money upfront and they'd do all the footwork." Ruelas said he paid about $4,000 over five weeks to a company that never even contacted his lender to modify his home loan. Now Ruelas and his family are on the cover of a DVD the Federal Trade Commission is sending out in an effort to curb the calls and mailers that have helped dupe hundreds of thousands of homeowners out of hundreds of millions of dollars. (story continues below) Your Ad Here Make a donation today to remove the advertisments! This Story Has Been Archived. To read the full story in the archives, please make a donation. Log In Now Admin Functions Edit Story Email To A Friend Email this story to a friend: Your Name: Their Email:   Related Stories (βeta) Massachusetts Lawsuit Claims Banks Not Helping With Mortgage Modifications 2010-02-25 17:48:09 (Score: 27) 1 In 10 Americans Behind On Mortgage Payments Or In Foreclosure 2008-12-05 15:33:38 (Score: 25) Firms Charging Thousands To Modify Mortgages - Non-Profits Offer Service For Free 2008-12-26 17:36:54 (Score: 24) Record Number Of Californians Miss Mortgage Payments 2009-04-22 18:44:48 (Score: 24) More Than 11 Percent Of Mortgages Delinquent Or In Foreclosure 2009-03-06 00:05:31 (Score: 24) Fannie Mae, Freddie Mac Halt Foreclosures Until After Holidays 2008-11-21 14:13:22 (Score: 23) U.S. Home Foreclosures Set New Record In 1st Quarter 2008-06-05 14:51:37 (Score: 23) Homeowner Rescue - U.S. House OKs Bill Allowing Judges To Alter Mortgages 2009-03-06 00:04:35 (Score: 22) Changes at Free Internet Press 2007-05-12 14:15:53 (Score: 22) California, Florida Lead U.S. In Big Foreclosure Surge 2008-06-06 13:32:39 (Score: 22) Home Sellers Owe More Than They Get 2007-04-20 02:37:22 (Score: 22) U.S. Homeowner Credit Evaporates 2008-02-01 00:49:57 (Score: 21) U.S. Treasury, FDIC Eye Plan To Help 3 Million Homeowners 2008-10-29 23:47:28 (Score: 21) U.S. Homes Keep Falling Into Foreclosure As Programs Fail To Help 2010-07-30 15:53:10 (Score: 21) Foreclosure Moratorium Called For By Regulator 2009-02-11 15:17:21 (Score: 21)   Readers Comments Add your own comment. (Anonymous commenting now enabled.)

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