The Federal Trade Commission (FTC) announced it will send $3 million in payments to consumers impacted by Ygrene Energy Fund, a home improvement financing company.
According to the FTC’s October 2022 complaint, Ygrene and its network of door-to-door contractors deceptively marketed a home improvement financing program by telling homeowners the program would not interfere with the sale or refinancing of their homes. As a result, liens were recorded without the homeowners informed consent. Ygrene’s contractors were also accused of high-pressure sales tactics to sign up consumers, with some cases involving forged signatures on paperwork.
As part of the settlement, Ygrene agreed to stop its deceptive and unfair practices, to monitor its contractors closely, and to pay $3 million to provide relief to certain consumers whose homes are still subject to the company’s liens. The FTC will send checks and PayPal payments to 960 affected consumers.
However, the settlement did not remove Ygrene’s liens, and those liens remain outstanding until paid. The FTC did not explain why that aspect of Ygrene’s chicanery remained intact.
