Q: What are the signs of short sale fraud or loan modification fraud?
A: The FBI reported a jump of 71% in mortgage relief fraud investigations from 2008-2009, and expects this number to continue to grow.
That’s why it’s my duty to educate homeowners in my community on the cautions they need to take, and what the government has recently done to protect you from unscrupulous individuals and companies who want to take advantage of their desperate situations.
What you need to watch out for if you are looking for mortgage relief assistance:
- Upront fees—just don’t pay them! In fact, they are now illegal!;
- A request to sign over your deed (this only spells trouble);
- Lots of paperwork without the opportunity for review;
- The claim of government-affiliation.
These are just a few red flags you need to be wary of. I’ve created a free report on the topic of Short Sale Fraud, Mortgage Relief Fraud that details more of what you need to watch for.
If you are struggling with an unaffordable mortgage and are looking for help, educate yourself. These scammers can be very shrewd and will say almost anything to steal your money.
The Federal Trade Commission has required disclosures of anyone offering mortgage relief services. If you’d like to see an example, check out any of the pages of my website. If a company you are dealing with has not provided these disclosures, please ask why they are not compliant, and proceed with caution!
As a CDPE, you should know that I have the tools to be in full compliance of FTC regulations, and work with your best interests at heart.
If you want viable alternatives to foreclosure, give me a call today. I’m always here to help!
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IMPORTANT GOVERNMENT DISCLOSURE: You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender (or servicer). If you reject the offer, you will not have to pay us for our services. The above brokerage is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.