As more and more people try anything to avoid losing their homes, more and more people are getting scammed.
Here are two links with important information for homeowners contemplating modifications:
This from The Christian Science Monitor:
TransUnion, a credit reporting company, released its own numbers on Tuesday. At the end of the fourth quarter last year, it said, 6.89 percent of all US mortgage payments were at least 60 days past due. That was an all-time high.
Enter unscrupulous loan-modification companies. They advertise on late night-television or radio shows and sound as if they are linked to the Obama program.
“Many of them have the word ‘hope’ in their phone number,” says Jonathan Mintz, commissioner of the Consumer Affairs Department in New York. “But it’s a false hope.”
And here’s a link mentioned in the same article that describes, among other things, 6 Facts You Should Know About Loan Modification Scams.
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Related posts:
- State of the Union Decompression: The Whole Mortgage Modification Thing
- Lessons in Loan Modifications
- That Servicemembers Notice & Your Loan Mod Request
- Mortgage Modification Update: Not so Hopeful
- Foreclosure Scams on the Rise
Tags: Consumer Protection, Consumer Scams, foreclosure, foreclosure prevention, Housing News, modification, Modifications and Workouts, Mortgage Rescue Schemes, Mortgages and Foreclosures