Foreclosure and Loan Modification scams are a growing problem, and scams aren’t always easy to spot.  Distressed Homeowners must be cautious and well informed to protect themselves against losing hard earned money, or losing their home to a potential scammer.

Scammers will typically make attractive promises, such as guarantees to “SAVE” your home or reduce your monthly mortgage payment and principal balance.  In return they will charge a fee in advance.  Scammers may pretend they have direct contact with your mortgage servicer when they do not.   They typically pocket your money and do little or nothing to actually save your home from foreclosure.

The Hightower Team provides free advice and delivers the help you are looking for.  We refer the best Local, State and Federal Government resources to assist Homeowners that are in trouble.  Visit our resources page for more information.  Foreclosure Avoidance Counseling is a FREE resource and the first step a struggling Homeowner should take to remain in control of their situation.

Tips to Avoid Foreclosure Scams

1. Beware of any person or organization who asks you to pay a fee in advance for counseling services, or to contact your Mortgage Servicer or Lender to modify, refinance, or reinstate your delinquent loan.  The fee may do little or nothing to actually save your from foreclosure.  DO NOT PAY!  WALK AWAY!
2. Scam artists target Homeowners who are struggling to meet their mortgage commitment, or anxious to sell their homes.  They often make guarantees to stop the foreclosure process, or that they can get your home modified.  Nobody can guarantee to stop the foreclosure process or modify your loan to avoid foreclosure.  Recognize and avoid all common foreclosure rescue and mortgage modification scams designed to take advantage of distressed Homeowners.
3. Beware of  a company or person who pressure you to sign papers that you haven’t had time to read, or that you do not fully understand.  Never sign over the deed to your home in an effort to “save” it from foreclosure unless you are working directly with your Lender to foregive the debt.
4. NEVER stop paying your mortgage payments and pay a company or individual instead.  Sending payments to anyone other than your Lender can make your situation worse.  Contact your Mortgage Servicer or Lender as soon as you are having trouble making your mortgage payments.  Despite what a scammer will tell you, never send a mortgage payment to anyone other than your Mortgage Servicer.
5. Be on the lookout when dealing with “government approved” or “official governement” loan programs.  A company or individual may pose as a legitimate organization in an effort to scam Homeowners.  Always verify anyone making these claims with your Mortgage Servicer or Lender, they can tell you if you qualify for any government program to prevent foreclosure.  Struggling Homeowners do not have to pay to take advantage of government backed foreclosure avoidance programs.
6. Remember that help is FREE, and you are always in control.  Homeowners shouldn’t agree to anything that doesn’t “feel” right.  Foreclosure Avoidance counseling is a FREE resource for all Homeowners.

“IMPORTANT NOTICE”