Penalty Amount
$3,000,000
Consumers Affected
1,821
The FTC is returning nearly $3 million to consumers deceived by the Golden Home Services mortgage relief scheme, which falsely promised to reduce homeowners' mortgage payments and prevent foreclosures. A federal court banned the companies and their operators from telemarketing and debt relief businesses and required them to pay millions. The refunds are being mailed to 1,821 affected homeowners.
The court banned the companies and operators from telemarketing and debt relief businesses, required them to pay millions of dollars, and the FTC is returning nearly $3 million to 1,821 affected homeowners via mailed checks.
In-house legal teams should review vendor agreements with mortgage relief or debt relief service providers, focusing on clauses related to truthful advertising, compliance with FTC rules on telemarketing and debt relief, and indemnification for deceptive practices. Customer agreements should be checked for clear disclosures about services and fees, and any clauses that could be interpreted as false promises. Employee contracts should include training requirements on regulatory compliance and prohibitions against misleading marketing.
Entity
Golden Home Services
Industry
Financial ServicesOfficial Press Release
https://www.ftc.gov/news-events/news/press-releases/2026/06/ftc-returns-nearly-3-million-consumers-deceived-mortgage-relief-scheme
ftc california dfpi case leads ban against operators mortgag
https://www.ftc.gov/news-events/news/press-releases/2024/02/ftc-california-dfpi-case-leads-ban-against-operators-mortgage-relief-scam-home-matters-usa
Federal Trade Commission Enforcement Page
https://www.ftc.gov/enforcement
"Golden Home Services"
"nearly $3 million"
"falsely promised to reduce homeowners’ mortgage payments and prevent foreclosures"
"banned these companies and their operators from the telemarketing and debt relief businesses"
"1,821 affected homeowners"
"California Department of Financial Protection and Innovation"
The FTC referred a complaint against REPS & Company Inc. and company executives, alleging they bypassed ticket-issuer security controls and purchasing limits to acquire millions of tickets for resale. The complaint was filed by the Department of Justice, and the case will be decided by the court; the press release does not report a penalty or other remedy imposed.
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$1.9M
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