Authorities publish tips to avoid loan modification scams; It’s not just happening here in California!
Trying to get to homeowners before scam artists; FTC and local and state authorities have recently cracked down those that prey on struggling homeowners.
The FTC has produced a video to increase awareness of the problem and to teach struggling homeowners how to avoid scams. As part of its inter-agency crackdow. Dubbed “Operation Loan Lies” the video can be watched and downloaded at www.ftc.gov/YourHome, or below.
For homeowners seeking to lower their monthly home loan payments, here are some tips on avoiding being caught in a scam. The suggestions come from the FTC and the office of California Atty. Gen. Jerry Brown:
A few of the other areas Modification Scams are rampant: