It may be just the result of an uncertain economy but there are businesses springing up that try to take advantage of the less fortunate among us.
A licensed mortgage broker from the State of Maryland was sentenced to 151 months in prison followed by five years of supervised release for conspiracy to commit mail and wire fraud in connection with a mortgage fraud scheme that falsely promised to help homeowners facing foreclosure to keep their home and repair their damaged credit.
She was also ordered to pay back the astounding amount of $16,880,884.86 for restitution and to forfeit 3 residential homes.
There are some valid, legal, professional and helpful credit repair agencies out there. Do not be taken in by the frauds. If your credit repair company is in the business of doing anything other than credit repair you need to beware as they may be just taking advantage of the opportunities of this difficult economy.