FTC Warns Mortgage Advertisers and Media That Ads May Be Deceptive
The Federal Trade Commission is warning mortgage brokers and lenders, and media outlets that carry their advertisements for home mortgages, that some of the advertising claims currently appearing in Web sites, newspapers, magazines, direct mail, and unsolicited e-mail and faxes may violate federal law.

“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. “Home ownership 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.” To read the full story, go to http://www.ftc.gov/opa/2007/09/mortsurf.shtm.

Recalled Products
For product recalls, go to http://www.recalls.gov. The Web site is a collaborative effort of the Consumer Product Safety Commission and four other federal regulatory agencies – the National Highway Traffic Safety Administration, the Food and Drug Administration, the Environmental Protection Agency and the U.S. Coast Guard.