FTC Shuts Down Foreclosure Scam

PHOENIX (CN) – The FTC says it has shut down a bogus mortgage foreclosure “service,” that lied about its “loss mitigation” services and the earnings potential of the business “opportunities” it sold. Freedom Foreclosure Prevention Services charged one month’s mortgage up front and promised it was successful in 97 percent of cases, though its real success rate was about 6 percent the FTC said.     The FTC also sued Jeffrey C. Segal, Michael R. Workman, and their Loss Mitigation Training Centers of America.