Implode-o-Meter News - Feds Crack Down on 530 in Foreclosure Rescue Biz -- And 21 Tips for Not Getting Scammed

The MARS Rule has been a success in the sense that it has provided the FTC, FBI, and state law enforcement officials with a clear path to shutting down and prosecuting loan modification and other types of mortgage assistance scams. And recent announcements by U.S Attorney General Eric Holder, warn that going forward the efforts to eliminate foreclosure rescue scams are only intensifying.

And all I can say is... thank the Lord and Godspeed.

The MARS Rule, however, in other ways is a double edged sword, because while it has caused many to get out of the business, and allowed law enforcement to go after others more efficiently and effectively, it has had another effect that's not good for homeowners at risk of foreclosure. It's made scammers harder to identify because now they come in a variety of flavors besides just good old loan modification.

Relevant:

Feds Crack Down on 530 in Foreclosure Rescue Biz -- And 21 Tips for Not Getting Scammed