IRVINE, CA (AttorneyNewswire.com) — August 13, 2010 — Scammers masquerading as legitimate companies continue to claim victim after victim. Even as these crimes continue to earn an impressive amount of press coverage, desperate homeowners continue to allow their sensitive emotional state to cost them (potentially) thousands of dollars after being swindled.
After being the victim of a scam, many borrowers will feel too embarrassed or ashamed to come forward and admit their mistake, which is why the scammers are able to operate for so long in some cases. When this happens, the scammer is able to thrive and claim more victims. It is important for borrowers who feel that they have been made the victim of a scam to report the scammer to the appropriate authorities. Even though multiple agencies hold jurisdiction over loan modification companies for the purposes of investigating crimes, the Federal Trade Commission announced in 2009 that it would pursue loan modification and foreclosure assistance companies who seek to defraud or mislead homeowners.
Timothy McFarlin, an Irvine, CA based foreclosure attorney, wants borrowers to understand the importance of reporting potential scammers.
“Many borrowers would rather not get involved in a criminal investigation, but for victims of loan modification scams it’s important for the truth to come out so more borrowers don’t become victims. Each time a scam is successful, a borrower comes closer to losing their home. If the borrower would rather remain anonymous they should contact an attorney who can represent them and explain their options. No matter where a person lives there is an office or representative that can assist borrowers who think that they have been scammed. The benefit of going through an attorney is that a person will usually be able to explain their exact situation under the protection of attorney client privilege, if the person has any concerns that may require the privilege.”
Contact information for the Federal Trade Commission can be found at www.FTC.gov.
About McFarlin & Geurts:
McFarlin & Geurts LLP is a full service law firm representing both businesses and consumers in California and throughout the United States. McFarlin & Geurts attorneys possess a keen sense of the law and markets, along with an astute business background that is invaluable in bankruptcy and business litigation. The McFarlin & Geurts team includes five leading attorneys and supporting staff to assure clients that their needs are placed at the forefront of any engagement. Legal representation and counseling is critical in our complex modern world, and McFarlin & Geurts is driven by a desire for excellence and commitment to provide quality, personalized service with integrity.
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To learn more about services offered by McFarlin & Geurts Law Firm, visit www.McFarlinLaw.com.
