“As home values across the country continue to plummet, the authorities say a new breed of swindler is preying on the tens of thousands of homeowners desperate to avoid foreclosure. Until recently, defrauders tried to bilk homeowners out of the equity in their homes. Now, with that equity often dried up, they are presenting themselves as ‘foreclosure rescue companies’ that charge upfront fees to modify loans but often do nothing to stave off foreclosure.” (New York Times, Thursday)
Another consequence of government housing policies.
FEE Timely Classic
“Can the Feds Save the Housing Market?” by Robert P. Murphy
