Scammers are targeting people having trouble paying their mortgages. The Federal Trade Commission, the nation’s consumer protection agency, wants you to know how to avoid scams that could make your housing situation go from bad to worse.
Don’t Get Hit by a Pitch
“We can stop your foreclosure!”
“Guaranteed to save your home!”
“97 percent success rate!”
Claims like these are signs of a foreclosure rip-off. Steer clear of anyone who offers an easy out.
Don’t Pay for a Promise
Don’t pay anyone who promises to prevent foreclosure or get you a new mortgage. These so-called “foreclosure rescue companies” claim they can help save your home, but they’re out to make a quick buck. Cut off all dealings if someone insists on a fee.
Imitations Equal Frustrations
Some con artists use names, phone numbers and websites to make it look like they’re part of the government. Don’t be fooled. If you want to contact a government agency, look up the web address or use a phone number listed on the agency website or in other reliable sources.
Send Payments Directly
Some scammers offer to handle financial arrangements for you, but just pocket your payment. Send your mortgage payments only to your mortgage servicer.
Source: Federal Trade Commission: www.consumer.ftc.gov