THE HOLIDAYS ARE AN EYE OPENER

Report from Inman news today show that 5 companies accused of  using deceptive practices for mortgage modifications and foreclosure rescue services have been hit by the federal trade commission and have had letters sent to them as well as 71 others.

The FTC announced it had filed complaints seeking restraining orders against three companies -- Federal Loan Modifications Law Center, Bailout.hud-gov.us, and Home Assure (doing business as Expert Foreclosure). The FTC has also obtained temporary restraining orders and frozen the assets of two other companies, Hope Now Modifications LLC, and New Hope Property LLC, doing business as New Hope Modifications.

The official site of the Obama administration's "Making Home Affordable" refinance and loan modification program is www.MakingHomeAffordable.gov. An industry alliance of loan servicers provides assistance at www.HopeNow.com and through a toll-free hotline, (888) 995-4673.