U.S. Government officials said that they are going to go after a group of suspicious companies masquerading as mortgage fraud and foreclosure rescue services.

The announcement was made on Monday in Washington DC, and participating are the Treasury, the U.S. Justice Department, the Department of Housing and Urban Development, the Federal Trade Commission and the Illinois Attorney General.  As part of the announcement they said that they would step up efforts to share resources and information to undermine and expose the scams.

Suspected mortgage and other financial fraud are very much on the rise in the US following the bust in the housing market. Many are concerned that scam artists are targeting individuals and families seeking financial relief under President Obama’s plan to help the over 9 million homeowners obtain more affordable mortgages fr their homes. Many troubled borrowers have been very interested in Obama’s plan since it was first announced in February and its no secret that these Borrower’s are the same people being targeted by the fraudsters.

The FTC said it has identified 71 companies running suspicious online or print advertisements aimed at troubled borrowers.