With the increasing number of illegal loan modification companies currently operating in the United States, the federal government has put a lot of effort to put a stop to this. There are plenty of government agencies who were authorized to implement the new legislation on the internet loans no credit check modification industry, one such agency is the Federal Trade Commission. The FTC deals with issues concerning the broad sectors of the US economy, it concerns itself with consumer protection and competition in the market. One of its obligations is to protect the homeowners from fraud in the industry. Currently, the FTC has been receiving numerous reports from American homeowners all over the country about certain companies that charge sky rocketing upfront fees and giving lofty promises to clients without doing anything to get their mortgages modified. To solve these problems, the FTC is now requesting all homeowners to report firms that have suspicious motives to any FTC offices near their area. Such companies will be investigated and if found guilty of doing fraudulent activities, due charges will be given to the respective officers.

As of the first quarter of 2010, eight illegal companies have been banned from doing business in the United States by the FTC. Included in the list are the following: Making Home Affordable, Apply2Save, New Hope Modifications, Loss Mitigation Services, Fedmortgageloans.com, and the Federal Loan Modification Law Center. When you receive any letter coming from these companies, report the occurrence to the Federal Trade Commission immediately for further investigation. These companies are no longer allowed to operate in the country and are not authorized to offer their services to American homeowners. There are plenty of companies under investigation and the only thing that homeowners can do to avoid being scammed is to be vigilant in their dealings. See if the company is listed in the FTC's reliable loan modification firms and do your research about their history and personnel competency.

The Federal Trade Commission and other non-profit agencies in the country are doing the things that they can in order to eradicate these fraudulent companies offering bogus mortgage help to desperate homeowners. However, there are still so many firms in the country that prey on the vulnerability of troubled borrowers. It is your duty to protect yourself from these heartless individuals and to ultimately save your home from repossession. Take time to search the BBB or FTC loan modification company lists, these are useful tools to help you determine the kind of firm that you may entrust the future of your mortgage with.

The blog is Angela's way of providing free information about the many unknown programs available to homeowners in trouble. Her years of experience an insight help those in trouble to fully understand the loan modification process. For more specific details about mortgage assistance, federal easiest payday loan direct lender modification and payday loans with outstanding payday loans modification attorneys see Angela's blog and find out the Secrets About Loan Mods today.