There is a foreclosure scam occurring nationwide that offers you assistance, but is really scamming you for your money!
There are few things in life that are scarier than losing your home to foreclosure. Scam artists are well aware of that and will target vulnerability by offering “help” to fix your situation. Knowing the difference between legitimate help and a scam will help you to avoid a situation like this.
So, how does it happen? Scammers may do a sweep on a hard-hit town or neighborhood with a direct mailing campaign or cold calling. They will promise relief for those threatened by foreclosure. Don’t be fooled by desperation! Be educated about the situation. They will begin by telling you that they can negotiate a deal with your lender, although they have no intention of doing so.
A legitimate source will never:
Ask you for fees upfront
Advise you to make mortgage payments to anyone but your lender
Ask you to sign over the deed to your house
Try to charge you for access to free government assistance
Extract personal information, which could later result in identity theft.
You never need to pay to find out about legitimate government programs.
Check out the Making Home Affordable program for federal refinancing and loan modification.