As the rate of foreclosures accelerates across the U.S. following the sub-prime mortgage crisis, so does the number of scam operations aimed at taking advantage of struggling homeowners. People experiencing financial problems and/or foreclosure are vulnerable targets—often desperate to save their homes and livelihood at any cost. It is important that every homeowner, regardless of financial situation, understands how to spot a scam.
We encourage you to check out the website for the NeighborWorks America “Loan Modification Scam Alert Campaign” at http://www.loanscamalert.org/. The website features expert knowledge on how to spot a scam and how to report a scam, along with real-life stories of people who have been victims of mortgage fraud. The website also features a “6 Things You Should Know” page with the warning signs of loan-modification scams.
If you’ve encountered what you believe to be a loam-modification scam, it is important to report the operation to the proper authorities. In Missouri, you should report mortgage fraud to the office of the Attorney General. To learn of all of the ways you can report mortgage fraud, and to report fraud online, visit the Attorney General’s consumer fraud website at http://ago.mo.gov/report_mortgage_fraud.htm. You can also call the consumer protection hotline at 1-800-392-8222.
Here’s what you need to know to find help and report fraud:
Missouri Attorney General Consumer Protection Hotline: 1-800-392-8222
FTC scam hotline: 877-FTC-HELP (877-382-4357).
Local HUD-certified housing counseling agencies are available for foreclosure intervention help. To find one, call the United Way’s 2-1-1 helpline at 1-800-427-4626.
Please remember, in Missouri it is illegal to charge a fee in advance of performing loan modification services.
From the Beacon’s Job Talk: GO! Network
Wed, Dec 16, 2009
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