Federal Trade Commission banned three debt relief companies from business for the false statements about their service that can help people get out of credit card debts and stop irritating calls and notices from debt collection agency. Besides, the defendants, Jonathan Greenberg, Financial Future Network LLC, Hermosa Group LLC, Media Innovations LLC, also get the fine of $500,000 for settling the changes.
Many homeowners experience difficulties with providing constant monthly payments on their mortgages, however, now they are protected by the new rule provided by the Federal Trade Commission.
On Friday, the government reported about the plan that is aimed to result in the potential wind-down of the government-backed mortgage companies. Officials are concerned about this as they suppose that the process will last for years and Tim Geithner, the Treasure Secretary stated that administration will stay behind Fannie and Freddie's obligations in the meantime.