The other day I heard a commercial on the radio that no homeowner should be paying up front fees for their loan to be modified, if they are of in jeopardy of losing their home. Following the housing crash in 2007, I know many people who fell prey to these modification scams, paying up front fees to several different companies who persuaded these desperate homeowners their mod program was the hot ticket to financial security and they could modify the loan and sometimes even reduce the amount they owed on the their home loans.
Not true. In fact this scam is still going on and being investigated by Federal agencies, and some signing services are actually scheduling notaries to go out to meet with the homeowners to sign their loan modification papers.
If any one receives a call offering fees to meet with clients to sign loan mods and it is not the original lender who is requesting, but coming through a middle man, you should not accept it and instead contact the mortgage fraud unit of the FBI in your locale. The Federal Department of Justice will prosecute the loan mod scammers. None of the money they collect will go toward successful loan modification, but in the pockets of these greedy crooksters. Millions of dollars are being collected from unsuspecting, naive and desperate homeowners. It's still an active scam, so please be on your toes. It is going on across the country, and the perpetrators are busy hustling this offer every day. I guess not everyone gets the memo, if you get my drift.
It's amazing to me that there are people out their engaging in these activities because they have no real work skills/talent/knowledge, while they prey on hardworking people, and the money is too good to pass up. |
