Better Business Bureau Serving Acadiana is alerting consumers to Fort Lauderdale, FL-based FMC Counseling Services, Inc.

Better Business Bureau Serving Acadiana is alerting consumers to Fort Lauderdale, FL-based
FMC Counseling Services, Inc.

The company was banned by the Federal Trade Commission from the mortgage modification business as part of a settlement resolving Federal Trade Commission charges that it tricked financially strapped consumers into paying for mortgage-relief services that it never provided.

BBB sets standards for ethical business behavior and monitors compliance.

FMC currently has an F rating with BBB on a scale of A+ to F. Factors that lowered the company’s rating include BBB concerns with the industry in which this business operates, failure to respond to four complaints filed against business, a government action against business and BBB does not have sufficient background information on this business.

The complete BBB Business Review can be found at: http://www.bbb.org/south-east-florida/business-reviews/advance-fee-resid...

According to the FTC's complaint, FMC falsely claimed that it was affiliated with the federal government's Making Homes Affordable assistance program, and that it would renegotiate consumers' mortgages to reduce monthly payments by several hundred dollars.

The FTC alleged that the owner hid his involvement in the scam through the use of stolen identities, shell corporations, and other ruses.

The company allegedly deceptively used the Federal Deposit Insurance Corporation's (FDIC) logo while calling itself the "Federal Debt Commission," the "Federal Mortgage Marketplace" and the "Federal Assistance Program."

These related companies promised consumers their mortgage modifications would be completed quickly and for free. They also told consumers to stop communicating with their lenders, and to send their "new" mortgage payments to addresses in Washington, DC, which turned out to be UPS Stores, not government office buildings.

These payments were then forwarded to Florida.

BBB offers the following tips when searching out a new mortgage broker:

· Check on the broker's reliability with BBB at bbb.org as well as state and local financial agencies and consumer protection agencies to be sure the business is reliable.

· Do you really need to use an "advance fee" broker? Check with all available sources before paying an advance fee. Is the broker using sources that may be available directly, without paying the broker's fee?

· Is a far away lender more likely to lend you money through a loan broker than your traditional sources close to home, particularly if you have already been turned down? Be wary of any broker claiming the easy availability of thousands of dollars for loans at reasonable rates or the availability of "foreign" money.

· Will any advance fee be placed in an escrow account until you actually get the loan? Be sure advance fee money is protected.

Better Business Bureau advises securing the above information in writing at least several days in advance of signing an agreement or paying any fees to the broker.

Start with Trust®. BBB Serving Acadiana works for a trustworthy marketplace by maintaining standards for truthful advertising, investigating and exposing fraud against consumers and businesses.

Please contact BBB at bbb.org or (337) 981-3497 24 hours a day for information on businesses throughout North America.
BBB Serving Acadiana services the parishes of Acadia, Evangeline, Iberia, Lafayette, St. Martin, St. Landry and Vermilion.