FTC Mails Redress Checks to Borrowers Misled By Chase Financial Funding, Inc.’s Allegedly Deceptive Mortgage Ads

WASHINGTON, D.C. – July 5, 2010 – (RealEstateRama) — The Federal Trade Commission is distributing refund checks to borrowers lured by a firm charged with deceptively advertising that it offered 3.5 percent, fixed-payment, 30-year mortgage loans. According to the FTC’s federal court complaint filed in 2004, the firm allegedly duped consumers into signing up for adjustable rate mortgages in which the principal balance would increase if they made payments at the advertised rates