Beware of Loan Modification Scams
With a growing number of households facing a loss of income or other circumstances that make it difficult to make ends meet, loan modification scams are a big problem. In fact, homeowners facing foreclosure are losing their money and their homes to loan modification scams.
Even the most reasonable and scam savvy among us can be taken in by loan modification con men, especially when we become desperate…AND we are uninformed.
These scammers say they’ll negotiate with lenders to lower your interest rates or other mortgage changes. Some “guarantee” a loan modification, while others charge exorbitant up front fees for services in states where it’s illegal, but never do anything for the homeowner.
Loan modification scams are changing and becoming more sophisticated everyday, but you can protect yourself with the right information.
As a rule, you should always check with us before you sign on the dotted line.