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THE NATIONAL URBAN LEAGUE IS HELPING MORTGAGE LOAN SCAM VICTIMS 

Mortgage fraud is on the rise, but the National Urban League is here to help. Scam artists may pose as lawyers or real estate agents, promising loan modifications and charging large fees- then disappearing without helping anyone but themselves! If you are a homeowner facing foreclosure, you may unknowingly become a victim of such fraud, costing you your home, thousands of dollars and a damaged credit score. Learn how to protect yourself from fraud, and find trained and qualified counselors who will help you for free.

You should NEVER have to pay for counseling, and if anyone requests money up front or guarantees they can keep you in your home these are warning signs of a scam and they should be reported. If you or someone you know is the victim of a scam, you can report it by clicking on the button on the right so your story can be sent to the proper authorities and stop these crimes from happening to others!

And if you do or don’t have a scam to report, you should always seek out and work with a HUD-approved housing counselor to help you with your mortgage. There are no promises that anyone can give you. Each situation is different but trained HUD-approved foreclosure counselors will work with you and your lender to get the best results for your situation at NO cost. You can look for an Urban League housing counselor near you or another HUD-approved agency by clicking on the links to the right.

Top 6 Warning Signs of a Foreclosure Scam
 

Scams aren't always easy to spot – but it helps if you know the warning signs. Here are six red flags that you may be dealing with a loan modification scammer:
 

1. A company/person asks for a fee in advance to work with your lender to modify, refinance or reinstate your mortgage. They may pocket your money and do little or nothing to help you save your home from foreclosure.

 

2. A company/person guarantees they can stop a foreclosure or get your loan modified. Nobody can make this guarantee to stop foreclosure or modify your loan. Legitimate, trustworthy HUD-approved counseling agencies will only promise they will try their very best to help you and they will work hard to get you the best solution for your situation.

 

3. A company/person advises you to stop paying your mortgage company and pay them instead. Despite what a scammer will tell you, you should never send a mortgage payment to anyone other than your mortgage lender. The minute you have trouble making your monthly payment, contact your mortgage lender.

 

4. A company pressures you to sign over the deed to your home or sign any paperwork that you haven't had a chance to read, and you don't fully understand. A legitimate housing counselor would never pressure you to sign a document before you had a chance to read and understand it.

 

5. A company claims to offer "government-approved" or "official government" loan modifications. They may be scam artists posing as legitimate organizations approved by, or affiliated with, the government. Contact your mortgage lender or a HUD-approved housing counselor first. Your lender or counselor can tell you whether you qualify for any government programs to prevent foreclosure. And, remember, you do not have to pay to benefit from government-backed loan modification programs.

 

6. A company/person you don’t know asks you to release personal financial information online or over the phone. You should only give this type of information to companies that you know and trust, like your mortgage lender or a HUD-approved counseling agency and only once you can verify that they are who they say they are.