The U.S. government is cracking down on scam artists who are preying on struggling homeowners who want to lower their monthly mortgage payments.
85 scams were shut down on Google’s advertising network and another 125 that were advertised on Yahoo and Bing were stopped. Unfortunately, there are hundreds of other scammers out there but this is a step in the right direction.
“The first place many homeowners turn for help in lowering their mortgage is the Internet through online search engines, and that’s precisely where they are being taken advantage of and targeted,” said Christy Romero, Deputy Special Inspector General for the Troubled Asset Relief Program (SIGTARP).
Since the crackdown began, Google has suspended advertising relationships with over 500 suspected clients and Microsoft has suspended relationships with over 400 suspected advertising clients. Both companies are cooperating with government officials by helping to identify potential scams in their paid advertising networks.
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