FDIC Launches Foreclosure Prevention Initiative

FDIC Federal Deposit Insurance CorporationThe Federal Deposit Insurance Corporation (FDIC) is launching an initiative to help consumers and the banking industry avoid unnecessary foreclosures and stop foreclosure “rescue” scams that promise false hope to consumers at risk of losing their homes.

This initiative includes outreach, referral services, and an information tool kit. Arming consumers with information will heighten consumers’ awareness of foreclosure “rescue” scams and give them more confidence in knowing they are working with legitimate counselors and servicers to obtain a loan modification that could help them avoid foreclosure.

As part of this initiative the FDIC has a telephone and internet referral service which directs consumers to legitimate counselors and mortgage servicers. Their referral service can also refer you to state and federal law enforecment agencies if you feel you have been a victim of a foreclosure rescue scam. You can call the FDIC referral service at 1-877-275-3342 or go online to www.FDIC.gov.

The information tool kit I referred to above is available from the FDIC’s foreclosure prevention web site. The tool kit includes the following resources:

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