Loan Modification Scam Alert

Loan Modification Scam Alert

It's a growing problem across the country: Homeowners facing foreclosure are losing their money – and their homes – to loan modification scams. Information is your best defense. If you see the signs of a scam and know the facts, you can protect yourself.  Scams aren't always easy to spot – but it helps if you know the warning signs to look for. Here are six red flags to indicate that you may be dealing with a loan modification scammer: click here: How to Spot a Scam.

If you or someone you know suspects they may be victim of a scam, there is help. The Hope Hotline, 888-995-HOPE, is the point of contact for homeowners seeking assistance, protection and information on loan modification scams. For information on the Most Common Loan Modification Scams click here.

The "Loan Modification Scam Alert" campaign, launched on October 26, educates homeowners about loan modification scams and empowers them to protect their homes. The Homeowner's HOPE Hotline, 888-995-HOPE, is the central point of contact for homeowners who think they may be a victim of a scam.

Experienced counselors that serve on the Hotline will help remedy the situations of those who have fallen victim to scams. These counselors will then connect homeowners with other resources including a member of the Lawyers' Committee for Civil Rights Under the Law for free legal assistance, as well as the official loan modification scam alert website at www.LoanScamAlert.com.

Scam victims will be connected to seasoned HUD-approved housing and loan modification scam counselors and homeowners will also have free access to pro-bono attorneys who will review their case and work closely with state AG offices, the FTC, as well as local law enforcement to prosecute cases as appropriate.