Eye On Boise

TUESDAY, AUG. 30, 2011, 12:14 P.M.

Mortgage-modification scam targets Spanish-speaking Idahoans

The Idaho Department of Finance is warning that a mortgage-modification scam is targeting Spanish-speaking Idahoans, promising to lower monthly mortgage payments but instead just charging an upfront fee of $1,995. The company is calling itself Freedom Companies Inc., Freedom Financial Mortgage, and several other names containing the word "freedom." “This company, using the term ‘freedom’ in its name, asks homeowners for private financial information, charges an unlawful upfront fee, and then leaves already distressed homeowners worse off than they were before," said Gavin Gee, director of the Department of Finance. "That’s not ‘freedom;’ that’s a scam.” You can read Gee's full news release here.

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Betsy Z. Russell
Betsy Russell covers Idaho news from the state capitol in Boise and writes the Eye on Boise blog.

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