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Resource ID: #24644
Subject: Business
Source: ABC News
Affiliation: 
Date: 03/20/2009

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Description

Many homeowners are facing the threat of foreclosure and losing their homes. A new industry, mortgage modification, is taking advantage of these homeowners. These companies promise to work with the banks to get the homeowners a better deal so they can keep their houses. The homeowners must pay an up-front fee of “several thousand dollars”. After the company has the money, they don't fulfill their duty and leave the homeowners without the little money they had left.

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