How to Recognize a Mortgage Scam
Agents please inform as much homeowners as possible on what to look for. A potential customer of mine was told her Loan Modification is 100% guaranteed. For the Records – No such guarantee exist!!!!!
• You are told you will get a federal incentive to walk away from your mortgage
• You are asked to pay upfront for counseling
• You are pressured to sign papers immediately
• You are asked to sign your house over to a company or person who is not working with your mortgage company
• You are asked to make a mortgage payment to someone other than your mortgage company without their approval
• You are guaranteed a successful short sale or mortgage modification
• They claim to be a representative of the federal
government
If you believe that you are a victim of a scam, you should contact the Federal Trade Commission (FTC) at 1-877-FTCHELP (1-877-382-4357)
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