As the Foreclosure Crisis continues more and more New Hampshire homeowners are finding it increasingly difficult to pay their mortgage. Desperate, these homeowners are more inclined to turn to firms that promise a "quick fix"... anything to save them from foreclosure, but beware! It is probably another scam.
In addtion to the "Mortgage Modification" scams that have plauged homeowners across the nation this new scheme offers to include the homeowner in a lawsuit against the homeowner's lender.... And as with all of the other scheme this one requires the homeowner to pay a fee. The catch? The lawsuit does not exist.
As reported by : KARK 4 News in their article: AR Homeowners Alerted about New Foreclosure Scheme "These scams offer to "save your home" or "fix your mortgage," but in reality, most only generate a quick profit for the con-artist and provide no benefit to the consumer. Worse yet, homeowners who follow the advice of the scammers could lose their homes...
..."The latest scam we have seen is a direct mail piece from an organization purporting to be a California law firm," McDaniel said. "It suggests that this firm has filed a lawsuit against the homeowner's mortgage lender and that joining the lawsuit will provide the homeowner with relief from burdensome mortgage payments. In reality, there is no lawsuit and all!"
So in realty not only does the homeowner lose their fee, but they also are far more likely to lose their homes, as well.
New Hampshire homeowners are advised on the HUD website: Making Home Affordable .gov, that they must "Beware of Foreclosure Rescue Scams - Help Is Free!"
​Foreclosure rescue and mortgage modification scams are a growing problem. Homeowners must protect themselves so they do not lose money—or their home.
Scammers make promises that they cannot keep, such as guarantees to “save” your home or lower your mortgage, oftentimes for a fee. Scammers may pretend that they have direct contact with your mortgage servicer when they do not.
- Beware of anyone who asks you to pay a fee in exchange for a counseling service or modification of a delinquent loan.
- Scam artists often target homeowners who are struggling to meet their mortgage commitment or anxious to sell their homes. Recognize and avoid common scams.
- Beware of people who pressure you to sign papers immediately, or who try to convince you that they can “save” your home if you sign or transfer over the deed to your house.
- Do not sign over the deed to your property to any organization or individual unless you are working directly with your mortgage company to forgive your debt.
- Never make a mortgage payment to anyone other than your mortgage company without their approval.
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