WASHINGTON (AP) — Federal regulators say a Florida company they accused of misleading borrowers who were seeking to avoid foreclosure has agreed to repay the consumers $2.4 million to settle those charges.
The Federal Trade Commission said Thursday that Home Assure LLC, based in Clearwater, Fla., promised borrowers mortgage relief in exchange for fees of up to $2,500 but delivered little or no help.
The company is now barred from selling mortgage and foreclosure relief services.
Consumer advocates and government officials say borrowers who need help should avoid for-profit outfits and instead contact nonprofit credit counselors who work with lenders at no charge.
The government has been pursuing numerous cases against companies it says prey on troubled homeowners.
