Hoax on Federal Loan Modification Programs
There have been reports about fraudulent activities transpiring even in federal loan modification companies.
Many of these American homeowners said that the federal loan modification rep & representative with which they entrust their mortgages with claim that they are authorized by the HUD to handle and provide help for various foreclosure cases in the country.
These bogus real estate experts charge up front but eventually run away with the money entrusted to their care.
Many dubiousfirms are sprouting all across the United States since the advent of the global economic crisis that severed the housing industry.
Since the subprime mortgage crisis years back, scammers in the real estate business play on the homeowners' desperation and exploit their trusts.
Distressed borrowers are vulnerable to fraudulent acts since they easily fall on promises thus, an easy prey to fraud.
With the lack of legislations surrounding the loan modification industry, many fake real estate professionals feed on the opportunity to make profits out of other people's misery.
These scammers use the name of the Obama administration to lure people in believing that they are indeed part of the federal government.
Beware of real estate experts giving out unsolicited letters saying that the government has ordered to foreclosure your property.
They use official-looking letters with US government seals making reference to the Obama programs.
There are also hucksters sending e-mails to American homeowners claiming that they are authorized to handle your foreclosure case and can provide you with a federalprogram in exchange of a fee.
They may even offer a money back guarantee and can show original looking certifications.
If you have received a notice of foreclosure claiming to be from your lenders verify all information directly with your lender before taking action.
In addition, do not entertain unsolicited e-mails that offer assistance; and trash any leaflets given by strangers even if it says that it is approved by the FHA because chances are they are not.
There are indeed numerous fake federal loan modification programs.
In order to avoid being victimized by such fraudulent acts, contact your lenders yourself and work things out together.
Any firms cannot help you out if your lenders refuse to modify your mortgage.
Even the success of lawyers in getting a loan modification still depends on your lender's approval.
If you want to get a federal help, go directly to any HUD offices nearby or log on to their official website.
Do not be swayed on sites claiming that they are an affiliate of a particular government department.
Many of these American homeowners said that the federal loan modification rep & representative with which they entrust their mortgages with claim that they are authorized by the HUD to handle and provide help for various foreclosure cases in the country.
These bogus real estate experts charge up front but eventually run away with the money entrusted to their care.
Many dubiousfirms are sprouting all across the United States since the advent of the global economic crisis that severed the housing industry.
Since the subprime mortgage crisis years back, scammers in the real estate business play on the homeowners' desperation and exploit their trusts.
Distressed borrowers are vulnerable to fraudulent acts since they easily fall on promises thus, an easy prey to fraud.
With the lack of legislations surrounding the loan modification industry, many fake real estate professionals feed on the opportunity to make profits out of other people's misery.
These scammers use the name of the Obama administration to lure people in believing that they are indeed part of the federal government.
Beware of real estate experts giving out unsolicited letters saying that the government has ordered to foreclosure your property.
They use official-looking letters with US government seals making reference to the Obama programs.
There are also hucksters sending e-mails to American homeowners claiming that they are authorized to handle your foreclosure case and can provide you with a federalprogram in exchange of a fee.
They may even offer a money back guarantee and can show original looking certifications.
If you have received a notice of foreclosure claiming to be from your lenders verify all information directly with your lender before taking action.
In addition, do not entertain unsolicited e-mails that offer assistance; and trash any leaflets given by strangers even if it says that it is approved by the FHA because chances are they are not.
There are indeed numerous fake federal loan modification programs.
In order to avoid being victimized by such fraudulent acts, contact your lenders yourself and work things out together.
Any firms cannot help you out if your lenders refuse to modify your mortgage.
Even the success of lawyers in getting a loan modification still depends on your lender's approval.
If you want to get a federal help, go directly to any HUD offices nearby or log on to their official website.
Do not be swayed on sites claiming that they are an affiliate of a particular government department.