The Real Deal Miami

Government to crack down on mortgage rescue scams

April 06, 2009 03:04PM

The federal government plans to crack down on fraudulent mortgage rescue programs, Treasury Secretary Timothy Geithner said today. These scams have increased as the housing crisis has grown. The Federal Trade Commission has already issued warning letters to 71 companies for allegedly putting out suspicious advertisements, and the FBI is investigating about 2,100 mortgage fraud cases, said Attorney General Eric Holder. CNN has a clip of Geithner’s announcement (see video above).