Foreclosure rescue and mortgage modification scams are a growing problem. Homeowners must protect themselves so they do not lose money-or their home. Scammers make promises that they cannot keep, such as guarantees to “save” your home or lower your mortgage, often times for a fee.
Fraud risk rose the most in the Worcester, Massachusetts-Connecticut, metropolitan area, where the risk of fraud rose by more than 50%. Florida includes eight of the top 15 metro areas for mortgage.
Foreclosure rescue and mortgage modification scams are a growing problem that could cost you thousands of dollars – or even your home. Scammers often make promises that they can’t keep, such as guaranteeing to "save" your home or lower your mortgage, usually for a fee, often pretending that they have direct contact with your mortgage servicer.
. a fraud and that he or she is now seriously behind on the mortgage. Spohn says the Washington area is in the top 12 states or regions for foreclosure-rescue fraud (California and Florida are the.
Short sales and Foreclosure Solutions · What is the difference between a foreclosure and a short sale? Foreclosures and short sales are both options for homeowners who fall behind on mortgage payments, but it’s important to.
Not surprisingly, states with the highest foreclosure rates like Ohio, have an exceptionally high number of complaints for companies offering foreclosure rescue. Typically, homeowners report that they.
· 6 Signs of a Mortgage Rescue Scam. December 13, 2009. No Comments. Beware of Mortgage Scams. Fraudulent foreclosure “rescue” professionals use half truths and outright lies to sell services that promise relief and then fail to deliver.
People arrested include buyers, sellers and others across the wide-ranging mortgage industry. The take down focused primarily on lending fraud, foreclosure rescue scams and mortgage. Georgia and.
Florida residents may contact the Attorney General’s Office to report mortgage foreclosure scams by calling 1-866-9-NO-SCAM (1-866-966-7226). File a Complaint
Loan shark finance for the post-modern age A loan shark is a person who offers loans at extremely high interest rates, has strict terms of collection upon failure, and operates outside off the street. The term usually refers to illegal activity, but may also refer to predatory lending with extremely high interest rates such as payday or title loans. An unintended consequence of poverty alleviation initiatives can be that loan sharks borrow from formal microfinance lenders and lend on to poor borrowers. Loan sharks sometimes enforce repay
reports a 58 percent rise in 2012’s foreclosure-rescue fraud schemes, a rate possibly spurred by the "opportunity" created by government assistance programs. Florida continues its run as the country’s.
Beware of mortgage rescue scams masquerading as new federal programs. consumer reports News: March 09, 2012 03:38 PM. Home loan modification scams may appear to be help from one of.
· Beware Foreclosure Rescue Scams Posted on Apr 10, 2015 in News Releases The state Department of Commerce and Consumer Affairs (DCCA) is launching a new public service announcement (PSA) to inform Hawaii homeowners to contact a free government certified housing counsellor if they face the possibility of foreclosure.