Spotting A Loan Modification Scam

Even after the height of the foreclosure crisis, families continue to be plagued by problems. This time it isn’t just the threat of unlawful foreclosures that threatens to victimize homeowners, but mortgage relief scams. Unfortunately, many families have fallen victim to loan modification scams; leaving them worse off than when they were only facing a foreclosure.

Keep An Eye Out

There are a few tale-tell signs of a mortgage relief scam that you should be looking for when shopping around to find help with your loan modification:

• Requiring up-front fees for services.
• Lack of documentation of a negotiated deal with your lender.
• Requesting you to sign forms that have not been discussed with you.
• Requiring mortgage payments to be channeled through the third party agency or given access to your banking information.
• Not licensed, accredited or reviewed by the Better Business Bureau.

If you are unsure how to proceed with your risk of foreclosure or are worried about falling victim to a mortgage relief scam, contact a foreclosure attorney to help review your case. You can rest assured that they can help you review your options in a safe environment, through ethical means.