Don’t Get Scammed
Don’t let yourself be victimized by a foreclosure rescue scam. Scam artists are targeting homeowners in financial distress and playing on their emotions and fears. They “guarantee” they can save your home and ask you to pay an upfront fee, sometimes as large as $3,000. In Virginia, Maryland and DC, it is illegal to charge an upfront fee for loan modification services. Scam artists collect your money, do nothing and disappear. Some scam artists convince you to send your monthly mortgage payments to them while they pretend to negotiate with the bank; or they deceive you into signing over the deed to your house.
Avoid responding to any solicitations you receive over the phone or in the mail or see in advertisements in the neighborhood, unless you can independently verify that it comes from a nonprofit organization or government agency. Even if a good friend or neighbor recommends a service, it is best to verify that an organization will work in your best interest before paying money.
Despite what they promise, scam artists usually don’t even contact your mortgage company on your behalf. Victims of scams are not only out of pocket a large sum of money but are then several more months behind on mortgage payments and in a worse situation with their mortgage company.
Protect yourself. Be aware.
For more information visit www.loanscamalert.org