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Lisa Madigan gets major exposure Monday; in DC with Geithner, Holder on mortgage fraud

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WASHINGTON--Whatever it is that Illinois Attorney General Lisa Madigan wants to do next--run for governor, the Senate, or stay put--she steps up to a bigger league Monday at a press conference here with Obama administration heavyweights dealing with mortgage scams. Officials are worried criminal cons and schemes will bilk people trying to use new federal programs designed to help people caught in the mortgage foreclosure crisis.

Madigan will appear with Timothy F. Geithner, Secretary, Department of the Treasury
Eric Holder, U.S. Attorney General, Department of Justice; Shaun Donovan, Secretary, Department of Housing and Urban Development and Jon Leibowitz, Chairman, Federal Trade Commission.


Below, from a release.....

FEDERAL, STATE PARTNERS TO ANNOUNCE MULTI-AGENCY CRACKDOWN TARGETING FORECLOSURE RESCUE SCAMS, LOAN MODIFICATION FRAUD

WASHINGTON - The U.S. Department of the Treasury, the U.S. Department of Justice, the Department of Housing and Urban Development, the Federal Trade Commission and the Attorney General of Illinois will announce a new effort to align responses from federal law enforcement agencies, state investigators and prosecutors, civil enforcement authorities and the private sector to protect homeowners seeking assistance under the Administration's Making Home Affordable program from criminal actors looking to perpetrate predatory schemes at a press conference at 10 a.m. Central Time (11 a.m. Eastern) on MONDAY, April 6, 2009 at the Department of the Treasury.

WHO: Timothy F. Geithner, Secretary, Department of the Treasury
Eric Holder, U.S. Attorney General, Department of Justice
Shaun Donovan, Secretary, Department of Housing and Urban Development
Jon Leibowitz, Chairman, Federal Trade Commission
Lisa Madigan, Attorney General of Illinois

WHAT: Press conference announcing new multi-agency crackdown on mortgage loan modification fraud and foreclosure rescue scams.

WHERE: U.S. Department of the Treasury
Media Room (4121)
1500 Pennsylvania Ave., N.W.
Washington, DC

WHEN: =C 2 Monday, April 6, 2009
10:00 a.m. Central Time (11 a.m. ET)

1 Comment

The next mortgage scams that needs to be regulated are the elimination of points on a mortgage and the elimination of realtors immoral commissions collected.
On a $400,000 mortgage we could save $12,000 (3 points) + $24,000 ( 6% realtor commission) = $36,000. These are the real mortgage scammers!

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Lynn Sweet

Lynn Sweet is a columnist and the Washington Bureau Chief for the Chicago Sun-Times.

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