Spreading the Word on How to Avoid Mortgage Scams
Nick Pappas of the Albuquerque Journal recently spoke to HPF’s Josh Fuhrman for an insightful piece called “Feeding on Foreclosure.” Josh shared with his readers how to avoid becoming the victim of a foreclosure rescue or loan modification scam.
The article highlights the growing epidemic of scam artists preying on distressed homeowners at their most vulnerable, making false promises and empty guarantees about fixing mortgage woes and making foreclosure threats disappear for a fee. We work with many of their unfortunate victims every day via our HOPE Hotline, and the truth is the scammers have gotten very good at their game.
Educating homeowners on how to avoid being scammed is critical in the fight against foreclosure rescue fraud, and spreading the word is a simple, yet effective, way to help prevent such schemes from flourishing. To that end, we commend Mr. Pappas and the Albuquerque Journal for bringing this issue to their readers’ attention.
Remember: If someone offers to help you resolve your mortgage challenges and demands payment (upfront or otherwise), run the other way. Such fee demands are illegal and are one of the most common signs of a scam.
As always, borrowers who have been the victim of a loan modification or foreclosure rescue scam are encouraged to report it to our team of anti-scam counselors by calling our HOPE Hotline at 888-995-HOPE (4673). The information you can provide is instrumental in the ongoing effort to combat mortgage scam artists and fraudulent organizations.