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FTC targets California firm offering mortgage help

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A company that ran Spanish-language ads offering relief to homeowners with mortgage troubles has closed in the wake of deceptive marketing and other allegations by the Federal Trade Commission.

Dinamica Financiera, also known as Soluciones Dinamicas, of Downey has stopped operations, according to its attorney, after being hit with a restraining order and asset freeze last week by a federal judge in Los Angeles.

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The FTC said in documents filed in U.S. District Court that during in-person sales consultations, people at the company promised ‘to save consumers’ homes from foreclosure’ and in some cases promised to obtain loan modifications.

But, according to the agency, many customer homes went into foreclosure. ‘In numerous instances,’ the FTC said, ‘consumers’ homes are scheduled to be sold at trustees’ sales after consumers hire’ the company.

The attorney for the company, Marcus Gomez of Norwalk, didn’t deny the FTC’s accusations but made an ignorance defense.

‘I think there were a lot of mistakes made on their part,’ Gomez said of the company owners. ‘I don’t look upon these people as evil people. They’re just ignorant and dumb.’

Dinamica Financiera charged upfront fees equivalent to homeowners’ monthly payments, the FTC said. In all, the company took in at least $3.3 million since 2006, according to the agency.

Gomez said the company would seek to settle with the FTC.

-- David Colker

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