Cuomo investigating loan-modification industry

06/10/2009 | NYTimes.com

New York Attorney General Andrew M. Cuomo has subpoenaed information from 14 loan-modification companies and said this week that he planned to sue American Modification Agency. "The entire industry is a scam, in my opinion," Cuomo said. Cuomo said his office had fielded complaints that the companies did not fulfill promises and, in many cases, left consumers in more debt.

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