Preventing Loan Scams
Don’t Be a Victim of Forclosure Rescue Scams
Worried about foreclosure scams? There are rescue scam predators waiting to take advantage of you. Protect yourself from being the scammer’s next victim. Learn how to avoid loan scams. If you have been victimized, find out what your options are.
These predators will make false promises, charge high fees, and then abandon you. Some are in the real estate or mortgage industry and some are attorneys, but all of them will take your money and do nothing to prevent foreclosure.
Never pay an advance fee for help with loan modifications or mortgage rescue.
COLLECTING A FEE IN ADVANCE IS ILLEGAL!
Before you become a victim, be aware of the warning signs:
- A company/person guarantees they can stop a foreclosure or get your loan modified.
- A company/person advises you to stop paying your mortgage company and pay them instead.
- A company claims to offer “government-approved” or “official government” loan modifications.
- A company/person you don’t know asks you to release personal financial information online or over the phone.
- A company/person asks for a fee in advance to work with your lender to modify, refinance or reinstate your mortgage.
- A company 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.
You can get free, foreclosure counseling through HUD-certified agencies. As a HUD-approved agency, Project Sentinel can help you seek a remedy if you have been a scam victim. Contact us at: 408-720-9888 or 888-331-3332 ext. 20.