Feds Ban Upfront Fees by Mortgage-Relief Firms

Homeowners desperate to dig themselves out from crippling monthly mortgage payments are now protected by a new Federal Trade Commission rule banning mortgage-relief companies from charging fees in advance.

The advance-fee ban, which was first announced last November as part of the FTC's Mortgage Assistance Relief Services (MARS) Rule, is designed to protect struggling homeowners from predation by the countless mortgage relief scams that have proliferated in recent years.