Two Florida men have been sentenced to serve seven years in federal prison for swindling more than $4 million from borrowers who were behind on their mortgages.

Christopher Godfrey and Dennis Fischer charged struggling homeowners $400 to $2,000 for mortgage-assistance applications that were available free of charge through the federal government, the Special Inspector General for the Troubled Asset Relief Program said Thursday. The inspector general is involved in the case because the federally-funded Home Affordable Modification Program is part of Tarp.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.