FTC refunds money to consumers hurt in foreclosure relief scheme

The Federal Trade Commission announced today that it was mailing 341 refund checks totaling over $107,000 to Spanish-speaking consumers who lost money to scammers promising to stop foreclosures or help them obtain mortgage loan modifications. 

In a summary judgment order, Dinamica Financiera defendants were banned from selling foreclosure relief or mortgage loan modification services. The FTC filed a lawsuit in 2009 and a federal court temporarily halted the company’s business practices and seized its assets.

Each consumer will receive varying amounts, based on 12 percent of their estimated loss. Those who receive the checks will need to cash them within 60 days of the mailing date.
Anyone with questions should call refund administrator Gilardi & Co., LLC, at 1-877-281-5622, or visit www.FTC.gov/refunds for more information.