In the current economic environment, the FBI has reported that mortgage fraud is one of the fastest growing white-collar crimes in the country. If you are worried about a foreclosure and looking into modification for your home mortgage, you should be on the lookout for Lease-back or Repurchase Scams, Refinance Scams, Internet and Phone Scams, and Phantom Help Scams.
Warning Signs – If you encounter any of these warning signs, run the other way:
- Asking you to pay a fee upfront
- Guaranteeing that they can stop a foreclosure
- Advising you to stop paying your mortgage and make payments to someone else.
- Pushing you to sign over the deed to your house.
- Asking you to provide your social security number or similar info over the phone or online.
Protect yourself by dealing only with your own mortgage lender or with a HUD-approved counseling agency.
Follow this link to read more from the Texas Bar Journal.
You can also check out a list of alleged scammers.
