Federal Trade Comission Seeks Comment

The Federal Trade Commission is seeking comment on a proposed rule change that would only allow for payment of mortgage modification services and mortgage foreclosure defense after successful modification and defense.  This provision would apply to attorneys as well as all other loan modification companies.

It appears that the FTC is wanting to help homeowners by decreasing the number of professionals helping homeowners.  A great summary of the FTC proposed rule is located at Mandelman Matters.  The article contains links to the FTC page and the link to make pubic comment.