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Authorities crack down on 2 mortgage aid firms

Federal authorities are cracking down on two companies that promised homeowners help with their mortgages, accusing them of posing as government agencies.
/ Source: The Associated Press

Federal authorities are cracking down on two companies that promised homeowners help with their mortgages, accusing them of posing as government agencies.

The Federal Trade Commission on Thursday said it filed charges against two companies — Nations Housing Modification Center and Infinity Group Services. It accused the companies of charging homeowners large fees for assistance in working with their lenders, but did "little or nothing" to actually help borrowers.

Federal regulators have filed charges against a total of 22 such operators. And in Washington, Treasury Secretary Timothy Geithner and Attorney General Eric Holder met with attorneys general from 12 states to discuss anti-fraud efforts.