Foreclosure Task Force: MML and Proposed Rule Change for Mortgage Relief Companies

Foreclosure Task force members,

1) Give a big welcome to Michigan Municipal League as the newest member on the Michigan Foreclosure Task Force! See this article on the MML website about their membership and plans to fight foreclosure.

2) A press release recently issued by the FTC regards a proposed rule change that would help stop foreclosure rescue scam companies from taking advantage of homeowners facing foreclosure. Among other changes, this rule would ban companies from charging a fee up-front for their services, as well as bar them from providing consumers with misleading or false information.

Michigan Attorney General Mike Cox has joined 45 other Attorneys General around the country in supporting these rule changes. Read the commentary by the National Association of Attorneys General here.

Public comment is being accepted on this proposed rule change until March 29, 2010. You may submit comments electronically here or via hard copy to: Federal Trade Commission, Office of the Secretary, Room H-135 (Annex W), 600 Pennsylvania Avenue NW, Washington, DC, 20580.