Beware of Foreclosure Scams

Beware of Foreclosure Scams

Unfortunately, there are scam artists waiting to take advantage of homeowners who are at risk of losing their home.  Unscrupulous tactics include charging late fees, posing as government programs, and "bait and switch" schemes that transfer ownership of the home.

• Beware of anyone who asks you to pay a fee in exchange for a counseling service or modification of a delinquent mortgage

• Don't believe people who "guarantee" they can stop a foreclosure or get you a loan modification

• Beware of people who pressure you to sign papers immediately, or who try to convice you that they can "save" your home if you sign or transfer over the deed of your house

• Never make your mortgage payments to anyone other than your mortgage company without their approval

• Beware of companies that offer "Official government" modification programs - they may be scam artists posing as legitimate organizations.  Check with your lender or a HUD-approved housing counseling agency.  Remember, you should not be required to pay a fee for this service.

If you think you've been a victim of a mortgage scam, visit www.speakoutohio.gov and www.LoanScamAlert.org for more information.