Arizona Homeowners to Get Relief

Arizona Homeowners to Get Relief

Story tools

A A AResize

Print

 

Phoenix -- Arizona, one of the states severely impacted by the
foreclosure crisis, will receive $1.7 million in funds from the federal
government to protect distressed homeowners from fraudulent schemes,
reported Prensa Hispana.

Attorney General Eric Holder promised to put scam artists that prey
on families behind bars, during a recent visit to Phoenix to hold a summit against mortgage fraud.

Arizona ranks fourth among states with high levels of mortgage fraud and that’s part of the reason why authorities are focusing in the area, according to the weekly Spanish publication.

The loan modification fraudulent schemes lure distressed homeowners
that are at risk of foreclosure with promises that they’ll save their
home for a fee, often asking for an advance payment, reported the
newspaper.