Loan Scam Alert - Beware

Jul 8, 2011

This year an estimated 4 million households will face foreclosure, and many will want to reduce their mortgage payments or otherwise keep their home. However, scam operations continue to multiply and find new ways to take advantage of our people. According to the Lawyer’s Committee for Civil Rights under the Law, there have been $25.7 million lost by homeowners filing scam complaints through January of this year. As you know, in much the same way our communities were targeted for predatory loans, our communities are again being targeted by scam operations who promise help they will never be able to provide and leave homeowners without their home; and the fees they are charging are often exorbitant, robbing people of those critical funds they needed to make a modification or other workout possible. For more information, click here or call 202-265-8200