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Three of the most common tag lines used by scammers involved in some type of Mortgage Relief Fraud. Unfortunately, the mortgage crisis opened the door for fraudsters to take advantage of homeowners in distress. This is more common than people realize because the fraud is so well disguised and can seem legitimate. This is an easy area for unscrupulous people to take advantage of others because most distressed homeowners are desperate to save their homes or at least avoid foreclosure and the ramifications to their finances and their lives. It’s hard for a homeowner in a desperate situation to know who to trust and where to turn.
Recently in Florida several individuals were arrested once it was discovered that they were involved in defrauding struggling homeowners under the name of “Home Owners Protection Economics, Inc.” or HOPE, a company specifically designed to mimic a real organization called HOPE NOW, a legitimate organization providing assistance. These guys were taking thousands of dollars up front claiming they were authorized by the lender and telling them they had already been approved for a loan modification.
In New York a law suit has been filed against companies who have defrauded homeowners out of tens of thousands of dollars by promising homeowners loan modifications and lower house payments in return for thousands of dollars up front. It’s unfortunate, but there are stories like these to be told in every state in the nation.
For people in this situation, the best way to avoid the most common types of Mortgage Relief Fraud is by consulting with a professional. If you or someone you know is in this situation, don’t be the next victim. Read the report I am offering free of charge and contact a knowledgeable professional for more details.
The following 5 types of Fraud are among some of the topics covered in the free report:
1.The up front charge – Any time there is a fee paid up front there is a real good chance there is fraud involved. There is no reason for anyone in this situation to be paying fees up front for a service that has not even been completed.
2. Guarantees – There is no guarantee of a certain outcome, there are too many variables.
3. Posing as a charity or government official – This is a common fraud tactic. Talk to your lender.
4. Asking you to transfer the deed to the property – If anyone is ever asked to transfer the deed to their property while still on the hook for the loan against the property that is a HUGE Red Flag!
5. Asking you to stop contacting your lender – You should have the right to contact your lender any time throughout the process of any attempt to avoid foreclosure, whether a short sale, loan mod, or other type of foreclosure avoidance. Be in contact with your lender and stay informed.