WASHINGTON, D.C. — The Federal Trade Commission (FTC) announced it is distributing more than $2.9 million to consumers misled by Ygrene Energy Fund, a home-improvement financing company accused of deceptive practices.
According to the FTC’s October 2022 complaint, Ygrene and its network of door-to-door contractors falsely claimed that their financing program would not interfere with homeowners’ ability to sell or refinance their properties. In reality, the financing agreements resulted in liens on the homes, complicating sales and refinancing efforts.
The complaint also detailed allegations that contractors used aggressive, high-pressure sales tactics — and in some cases, even committed forgery — to enroll homeowners without their informed consent. These tactics led to liens being recorded on properties without proper authorization, causing significant financial and legal complications for affected homeowners.
Under the settlement terms, Ygrene agreed to cease its deceptive practices, enhance oversight of its contractors, and pay $3 million to compensate homeowners impacted by these liens. However, it is important to note that the settlement does not remove the existing liens; homeowners remain responsible for resolving these obligations.
The FTC is issuing payments to 960 consumers in the form of checks and PayPal transfers. Recipients are advised to cash their checks within 90 days and to claim PayPal payments within 30 days to ensure they receive their share of the settlement.
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