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. You need to beware of foreclosure scams.

• Be suspicious of anyone who asks you to pay a fee in exchange for a counseling service or modification of a delinquent mortgage. Most reputable counseling organizations do not charge fees or charge only very small fees.
• Don’t believe people who “guarantee” they can stop a foreclosure or get you a loan modification. The “guarantee” is a sure warning sign.
• 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 of your house. Anytime you feel that you are being pressured to make decisions on the spot, you need to step back and take a better look at who you are dealing with and what it is they want you do do. Get a second opinion if you are confused or unsure of how to proceed.
• 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.
• Remember you parents advice…if it is too good to be true, you should probably walk away.

If you think you’ve been a victim of a mortgage scam, visit www.LoanScamAlert.org for more information.