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The mortgage modification and foreclosure release scams are increasing and this problem could cost you thousands of dollars if not more, even your home.
All scammers make promises they cannot keep, including the guaranty to “save” your property or reduce your mortgage, usually for a fee, frequently pretending they have direct contact with your lender in which they not.
Advices to Evade Scams:
- Beware of anybody who requests you to pay a fee in exchange for counseling services or the adjustment of a delinquent mortgage.
- Beware of those who force you to sign papers immediately or who attempt to persuade you they can “save” your home if you sign or transfer over the deed to your property.
- Do not sign over the deed to your property to any business or individual unless you are working directly with your mortgage company to pardon your debt.
- Never make a mortgage payment to anybody other than your mortgage company without their approval.
If you have a reason to think you’ve been scammed, file a complaint today.
Additional Government Resources:
The mission of the Consumer Financial Protection Bureau (CFPB) is to make markets for consumer financial products and services work for Americans — whether applying for a mortgage, choosing among credit cards, or using any number of other consumer financial products.
The mission of the Federal Trade Commission is to prevent business practices that are anticompetitive or deceptive or unfair to consumers.