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US courts freeze assets of 19 firms sued for foreclosure scams

11:42 AM, Oct 9, 2012   |    comments
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WASHINGTON (AP) - Three federal courts have frozen assets of 19 companies accused of scamming vulnerable homeowners at risk of foreclosure.

The Federal Trade Commission filed the requests in Florida, Ohio and California against the companies that are accused of promising relief to distressed homeowners and then charging them thousands of dollars for little or no help. The courts granted the government's request for restraining orders.

The FTC says the companies participated in three schemes: Prime Legal Plans-Reaching U Network, American Mortgage Consulting Group and Expense Management America.

The Federal Trade Commission has filed 38 other similar cases since 2008.

 

The Associated Press

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