Ariz. Attorney General working with feds to crackdown on loan modification scams

Arizona Attorney General Terry Goddard said his office is teaming with the federal goverment to stop more loan modification scams.
Today, at the end of the National Association of Attorneys Generals meeting in Phoenix, Goddard said his office recently met with federal regulators, including the U.S. Department of Justice. He said the prosecutors plan to work together to stop firms from cheating struggling homeowners.
Non-profit housing counselors currently offer free help to homeowners trying to receive government-backed loan modifcations to avoid foreclosure. However, a growing number of firms are solicting homeowners and offering help for fees as high as $5,000. Instead of providing loan modification help, …

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