U.S. Department of Justice indicted 530 people on foreclosure fraud charges. Law enforcement officials say foreclosure rescue scams stole over $1 Billion from 73,000 homeowners.
WASHINGTON - On Tuesday, government officials celebrate accomplishments of the Distressed Homeowner Initiative, the first nationwide program to investigate foreclosure fraud schemes. These foreclosure rescue scams target vulnerable homeowners who are late on mortgage loan payments and risk losing their homes to the bank.
Attorney General Eric Holder states the year-long determination to help distressed homeowners paid off, "The success of the Distressed Homeowner Initiative, and the developments we announce today, underscore our determination to pursue these and other financial fraud criminals around the country."
