RSS Feed

Don’t Fall For This Mortgage Relief Scam!

“If you’re a struggling homeowner trying to save your house from foreclosure, beware the latest mortgage-relief scam: Dozens of companies have been accused of falsely promising mortgage relief—while collecting millions of dollars in illegal upfront fees, according to a report by the Los Angeles Times.

The Consumer Financial Protection Bureau recently filed three lawsuits against eight firms accused of ripping off homeowners. The agency says the companies collected more than $25 million in illegal upfront fees while promising to modify mortgages or prevent foreclosures.

The crackdown on the mortgage-relief scam is code-named “Operation Mis-Modification”.

“These companies pocketed illegal fees, taking millions of hard-earned dollars from distressed consumers, and then left those consumers worse off than they began,” Richard Cordray, the bureau’s director, told the Los Angeles Times. “These practices are not only illegal, they are reprehensible.”

According to the bureau, there are a few red flags to tip off potential victims. Consumers should be wary of any demands for upfront payments and any guarantee that a modification or other assistance will be obtained.

The Federal Trade Commission also filed six lawsuits, according to the Los Angeles Times. Overall, officials from 15 states—including Florida, Illinois and New York—have filed a combined 32 lawsuits.”

Advertisements

About driggersteam

We want to help you find the right home for your family in an honest and professional way. We love the opportunity to work with buyers and sellers. Whether first time home buyers or experienced home buyers, we are ready to help you! We have the experience needed to ensure a smooth and easy transaction. With highly trained negotiating skills, we can help you get the right price for your home. We are determined to work hard for our customers and clients. It is our pleasure to offer you an overview of the Warner Robins Georgia area real estate market. As REALTORS® who know the Warner Robins area inside and out, We have the ability to represent both home buyer and home seller equally, ensuring that both parties find just what they are looking for in their real estate transaction. Give us a call or email today! Call Anisa at (478) 256-1064 or Mick at (478) 256-0979.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: