Avoid mortgage modification and foreclosure rescue scams

foreclosureBy: Dennis Norman

Recently the The Office of the Comptroller of the Currency issued a Consumer Advisory.  The Advisory contains consumer tips for avoiding mortgage modification scams and foreclosure rescue scams.

The advisory states; “Scams that promise to “rescue” you from foreclosure are popping up at an alarming rate nationwide, and you need to protect yourself and your home.   If you’re falling behind on your mortgage, others may know it too – including con artists and scam artists.  They know that people in this situations are vulnerable and often desperate.”

The OCC suggests that before you do business with someone offering to negotiate a loan modification for you or to stop or delay foreclosure for a fee that you carefully check his or her credentials, reputations, and experience.  Watch out for warning signs of a scam, and always maintain personal contact with your lender and mortgage servicer. Continue reading “Avoid mortgage modification and foreclosure rescue scams