Bipartisan Federal Foreclosure Rescue Legislation Proposed

From a press release issued today from the office of U.S. Senator Herb Kohl (D-WI):

• Today, Senators Herb Kohl (D-WI), Susan Collins (R-ME) and Blanche Lincoln (D-AR) unveiled bipartisan legislation to protect financially distressed homeowners -- often elderly -- from unscrupulous financial predators. The Foreclosure Rescue Fraud Act of 2008 would help end the dramatic increase of mortgage schemes that have risen nationally by 800 percent in the last five years, with an estimated 60,000 cases expected this year.

For more, see Kohl Unveils Foreclosure Rescue Scam Bill (Bipartisan Measure Would Protect Financially Distressed Homeowners From Being Targeted).