Don’t fall victim to unscrupulous con artists trying to take advantage
of unknowing, financially troubled home owners. These scammers usually
promise mortgage loan modifications or reduced monthly payments for
upfront fees. In most case, charging upfront fees or payments for these
services is illegal.
According to the Federal Trade Commission, these offenders review
foreclosure notices in newspapers, the Internet and public files to
identify potential victims. Scammers who place ads online, on
television, and in newspapers claiming to “stop foreclosure now” and
offering “money back guarantees” are suspect and should be reviewed
cautiously by the homeowner.
For tips to avoid mortgage modification scams, visit here.