Monday, November 28, 2011

U.S. government goes after mortgage scammers

It sickens me to see that some people will happily screw over people who are already in trouble:
The federal government is cracking down on scammers who target struggling homeowners looking to lower their monthly mortgage payments.

Hundreds of con artists have been taking advantage of victims through online advertisements on search engines Google, Bing and Yahoo!, promising to help homeowners modify their mortgages through the government-run program known as the Home Affordable Modification Program (or HAMP).

Last week, the agency that investigates fraud, waste and abuse in the government's Troubled Asset Relief Program, announced that it has shut down 85 scams that were advertising on Google. Then, on Monday, it announced it had halted another 125 shady advertisers on Yahoo and Microsoft's Bing search engine. ...

Ever since HAMP and other federal aid programs aimed at helping struggling homeowners were launched, scam artists have been finding ways to exploit them.

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