Scam artists are stealing millions of dollars from distressed homeowners by promising immediate relief from foreclosure, or demanding cash for counseling services when HUD-approved counseling agencies provide the same services for FREE. If you receive an offer, information or advice that sounds too good to be true, it probably is. Don’t let them take advantage of you, your situation, your house or your money.
How to Spot a Scam – beware of a company or person who:
- Asks for a fee in advance to work with your lender to modify, refinance or reinstate your mortgage.
- Guarantees they can stop foreclosure or get your loan modified.
- Advises you to stop paying your mortgage company and pay them instead.
- Pressures you to sign over the deed to your home or sign any paperwork that you haven’t had a chance to read, and you don’t fully understand.
- Claims to offer “government-approved” or “official government” loan modifications.
- Asks you to release personal financial information online or over the phone and you have not been working this person and/or do not know them.
How to Report a Scam – do one of the following:
- Go to www.preventloanscams.org and fill out the Loan Modification Scam Prevention Networks’s (LMSPN) complaint form online and get more information on how to fight back. Note: you can also fill out this form and send to the fax number/email/address (your choice!) on the back of the form.
Call 1(888)995-HOPE (4673) and tell the counselor about your situation and that you believe you got scammed or know of a scam.
Here’s how you can verify this program is legitimate: The following links are published on the efanniemae.com website and appoint the Collins Center as their program manager:
(click on Circuits link at the bottom of the page)