June 7, 2012
By Ilyce Glink
The plunge in U.S. housing prices that followed the financial crisis left millions of homeowners desperate for mortgage relief -- and vulnerable to being scammed. Among the targets of this fraud: U.S. military personnel.
Officials with the U.S. Treasury, the Consumer Financial Protection Bureau, and other regulators recently warned of schemes aimed at soldiers who have sought mortgage assistance under the federal Home Affordable Modification Program (HAMP). "Members of the armed services community often face unique financial challenges and are at particular risk for this type of scam," said Christy Romero, who heads the Office of the Special Inspector General for the Troubled Asset Relief Program, in a statement.
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