Money Paid to Foreclosure Rescue Scam Victims

Money Paid to Foreclosure Rescue Scam Victims

Posted on 24. Mar, 2011 by in News

The Federal Trade Commission will be giving checks to almost 1,500 people who were taken advantage of by Bryan D’Antonio’s scam called Tax Relief ASAP. These checks total only 24% of the victims total losses and offer little relief to the people who lost their homes by foreclosure because they fell for the phony foreclosure rescue scheme.

Tax Relief ASAP violated the telemarketing ban and misled struggling homeowners to believe that they could prevent foreclosure and that their company would negotiate with lenders to reduce their interest rate or mortgage balance. Inside the scam, Tax Relief ASAP instructed people to stop paying their monthly mortgage payments and to pay them instead.

Throughout the housing crisis, many people gave the group $5,500 in advance and ended up ultimately losing their homes to foreclosure. The total judgment was for $11.4 million and recipients have up to 60 days to cash their checks.

Source: http://www.walletpop.com/2011/02/28/foreclosure-rescue-scam-victims-getting-some-compensation/

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