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Question:

What are some of the warning signs of scams or fraud?

Answer:

There should never be a fee for assistance with or information about the Making Home Affordable Program.

Beware of any person or organization that asks you to pay an upfront fee in exchange for a counseling service or modification of a delinquent loan. Do not pay – walk away!

Beware of anyone who says they can "save" your home if you sign or transfer over the deed to your house. Do not sign over the deed to your property to any organization or individual unless you are working directly with your mortgage company to forgive your debt.

Never make your mortgage payments to anyone other than your mortgage company without their approval.

The Obama Administration has launched a coordinated effort across federal and state government and the private sector to target mortgage loan modification fraud and foreclosure rescue scams that threaten to hurt American homeowners and prevent them from getting the help they need during these challenging times.

Question:

What should I do if I’ve been scammed?

Answer:

First, get the help you need to avoid foreclosure. Contact your servicer immediately.

Contact a HUD-approved housing counselor through the Homeowner’s HOPE Hotline at 888-995-HOPE (4673).

To learn about foreclosure rescue or loan modification scams, go to www.LoanScamAlert.org or www.ftc.gov/MoneyMatters. To file a complaint or to get free information on fraud and other consumer issues, call the Homeowner’s Hope Hotline at 1-888-995-HOPE (4673) or contact the Federal Trade Commission at www.ftc.gov/consumerprotection or 877-FTC-HELP (4357).

Source:

www.makinghomeaffordable.gov/faqs/homeowner-faqs/Pages/default.aspx  

  Be sure to do your own due diligence in order to further educate yourself about this subject.  Not meant as legal or professional advice.

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