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FTC warns some mortgage ads may violate law | 2007-09-11

"Many mortgage advertisers are making potentially deceptive claims about incredibly low rates and payments, without telling consumers the whole story -- for example, that these low rates and payments apply for a short period only and can go up substantially after the loan's introductory period," said Lydia Parnes, director of the FTC's Bureau of Consumer Protection, in the release.

"Homeownership is the American dream, but it can become a nightmare for consumers who don't have the information they need to understand the terms of their mortgage."

2007-09-11

Source: Dow Jones Marketwatch.com
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