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FTC orders Wealth Educators to halt mortgage relief services

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– The Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission (FTC), and 15 states announced a sweep against foreclosure relief scammers that used deceptive marketing tactics to rip off distressed homeowners across the country. The Bureau is filing three lawsuits against companies and individuals that collected more than $25.

Education Department · 17 · 5. Federal Trade Commission (FTC or Commission ).. assistance relief services” includes any service marketed to “stop[], prevent[], of an advance fee for credit repair services, money recovery services, and. requirements also are consistent with those in many FTC orders.

The Federal Trade Commission has obtained court orders banning a mortgage relief operation from the mortgage modification and debt relief business. The FTC alleged that Edward William Rennick III.

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The defendants also used websites allegedly set up by Veronica Sesma, the owner and president of Wealth Educators, to advertise the supposed mortgage relief services. Before providing any services, however, Wealth Educators charged consumers an up-front fee ranging from $1,000 to $5,000, promising the money would be fully refunded if the company didn’t provide the relief it promised.

Borrower Beware: Title 4 Services 2 MARS Rule, which requires mortgage assistance relief services ("MARS"). 3 providers to. 23 consumers. Wealth Educators has established bank accounts for Family 1st. 13 personal check, cashier's check, money order, electronic fund transfer, 26 consumers should stop making mortgage payments to their lenders .

Upcoming mortgage rules blamed for slow existing home sales Rising mortgage rates and tighter lending rules have been blamed for the slowdown in sales, prompting some to call on the federal government to make changes in the upcoming federal budget to help first-time homebuyers. CIBC economist Royce Mendes said 2019 is shaping up to be a tougher year for homebuilding.

FTC wins restraining order against group it alleges portrayed itself as affiliated with the. of Education before charging borrowers for services it misrepresented.. charging that they promoted student loan debt-relief services but did not. A temporary restraining order was granted, halting operations falsely.

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A mortgage relief services company and its owner, have agreed to settle. The settlement resolves allegations that Wealth Educators and Veronica Sesma. A court had ordered a halt to the alleged violations and frozen the.

Citing hundreds of millions of dollars in losses to scams, in 2010 the FTC issued the Mortgage Assistance Relief Services, or MARS, Rule to stop the practice. The rule barred companies from taking advance fees for foreclosure relief, which the government viewed as the primary trap for homeowners.

The Federal Trade commission an-. fendant promised to halt foreclosure pro-ceedings and help the clients obtain large damage awards, but instead only hired. ftc halts Mortgage Relief Scam April 2012 Skyline Financial Services, Inc.