5 Signs of a Mortgage Scam
- Promises to Stop a Foreclosure or Modify Your Loan
- Guarantees Your Home Will be Saved
- Requires Fees in Advance
- Advises You to Stop Paying Your Mortgage Company
- Looks, Sounds, and Seems Official...But Isn't
| Foreclosure Scams |
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F acing foreclosure? Scammers are targeting people having trouble paying their mortgages. Some claim to be able to "rescue" homeowners from foreclosures, while others promise loan modifications -for a fee. But they're out to make a quick buck, and can turn a homeowner's distress into disaster. The Federal Trade Commission (FTC), the nation's consumer protection agency, wants you to know how to avoid scams that could make your housing situation go from bad to worse.
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