Bank Regulators Warn Consumers about Foreclosure Rescue Scams
The Office of the Comptroller of the Currency (OCC, the federal regulator of national banks) and the Office of Thrift Supervision (OTS, the federal regulator of savings associations) have both issued flyers warning consumers about foreclosure rescue scams. Both flyers provide concrete, practical advice on avoiding the kinds of high pressure tactics and abusive practices engaged in by the scammers. Families with equity in their homes are particularly at risk, but anyone paying for these services is likely to be sorry. Free counseling is available from HUD-approved counseling agencies.
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