Don’t get scammed by a phony loan modification provider
People who are facing foreclosure will do almost anything to save their homes. Sadly, there are numerous companies that prey on distressed homeowners and happily to take their money under the guise of helping them resolve their mortgage problems.
It is important for you to understand that a vast majority of these companies have no interest in helping you. They only want to take your money during a time when funds are already short. They come after people who are desperate to find a fast solution to a complex problem, and they will tell you whatever you want to hear in order to get your money.
Some of the warning signs that might tip you off to a scam may include:
- Any kind of guarantee that the service will save your home
- Instructions that you should not contact your lender
- A requirement for upfront payment before services are rendered
- Requests for your bank or credit card information
- Minimal details about how the services work
- You were contacted by a telemarketer
Be alert, and protect yourself from scam artists
Loan modification agreements happen between you and your lender, period. Even if the people on the other end of the line are telling you that they will work on your behalf and that you don’t even need to contact your lender, don’t believe it. If you are looking for a solution to problems with your mortgage, your best bet is to contact a lawyer who knows the law and will provide you with the honest representation you need.
Most firms offer a free initial consultation where you can get your questions answered and learn more about your options. It will cost you nothing to speak with a lawyer.