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In January 2025, the FTC sent more than $49,000 in refunds to consumers who paid a sham mortgage relief operation that told financially distressed homeowners it would help get their mortgages modified, but instead effectively stole their mortgage payments.
The Federal Trade Commission is taking action against Invitation Homes, the country’s largest landlord of single-family homes, for an array of unlawful actions against consumers, including deceiving renters about lease costs, charging undisclosed junk fees, failing to inspect homes before residents moved in, and unfairly withholding tenants’ security deposits when they moved out.
Invitation Homes has agreed to a proposed settlement order that would require the company to turn over $48 million to be used to refund consumers harmed by its actions. The corporate landlord will also be required to clearly disclose its leasing prices, establish policies and procedures to handle security deposit refunds fairly, and stop other unlawful behavior.
The operators of a massive real estate investment coaching scheme face permanent bans and will pay approximately $12 million for consumer redress as part of a settlement in a lawsuit filed by the Federal Trade Commission and the Utah Department of Commerce Division of Consumer Protection (UDCP).
The FTC and UDCP alleged that Zurixx, LLC, its owners Cristopher Cannon, James Carlson, and Jeffrey Spangler, and a number of associated companies operated a real estate investment coaching scheme that sold live seminars and telephone coaching using false earnings claims that convinced tens of thousands of consumers to pay them thousands or tens of thousands of dollars.
The Federal Trade Commission is sending more than $12 million in refunds to consumers who paid Zurixx, LLC for a real estate investment training program that allegedly made empty promises about earning big profits by “flipping” houses.
Opendoor Labs Inc. promised to revolutionize home selling by offering to buy consumers homes for market value while reducing transaction costs. It promised to provide speed and certainty to home sellers while saving them thousands compared to selling on the market or selling traditionally, as the company describes such sales. Although Opendoor generally delivered on its promises to provide a faster and more certain transaction, it did not save consumers money. In fact, consumers who sold to Opendoor typically lost thousands compared to what they would have made on the market. Contrary to the company's marketing, it made submarket offers and had associated costs higher than in traditional sales. The company's marketing and the opacity of the transaction, however, left consumers unaware that they had lost money. The Commission approved a final order in this matter in October 2022. In April 2024, the FTC announced it was sending nearly $62 million in refunds to sellers deceived by advertising and marketing claims made by online real estate business.
As a result of a lawsuit filed by the Federal Trade Commission and the Utah Division of Consumer Protection (DCP), the principals of a Utah-based real estate investment training company will pay $15 million and be banned from selling money-making opportunities under a court order they have agreed to. In addition, two of the primary real estate celebrities who endorsed the training have agreed to orders that require them to pay $1.7 million.
The Federal Trade Commission is sending more than $10 million in refunds to consumers who paid for a real estate investment training program that allegedly made empty promises about earning big profits “flipping” houses.
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