Tuesday, December 27, 2011

How To Avoid Being Scammed

Homeowners all across America are struggling to make their mortgage payments.  To make things harder homeowners have to watch out for scams and con artists that guarantee to save their homes and lower their mortgage payments. 
It is important to keep in mind is that no one can guarantee anything.  So if you are going delinquent on your mortgage and seeking a mortgage modification there are a few tips to keep in mind:
  • Your mortgage lender is the ONLY one who has the discretion to grant a loan modification. Thus NO third party in any case can guarantee or pre-approve your mortgage modification or application.
  • Be careful with anyone that wants to charge you in advance for their mortgage modification services—in most cases it is illegal to charge in advance.
  • Watch out for companies that offer a money back guarantee.
  • Be cautious of companies that tell you to stop paying your mortgage payments on time.  It is not ethical for any individual or company to do so.
  • If you are told to not contact your mortgage lender, beware.
  • You can apply to the federal Home Affordable Modification Program (HAMP) for free and on your own or you may seek help from a housing counselor that is approved by the U.S. Department of Housing and Urban Development (HUD).
  • Moreover, if an individual or company claims to be a HAMP “expert,” you are potentially being scammed.  If that company or person displays the seal or logo that represents the U.S. government in correspondence or on the internet, check to make sure they are valid.
  • For information on how to apply or about a correspondent call the Homeowner’s Hope Hotline at 1-888-995-HOPE (1-888-995-4673) or visit http://www.makinghomeaffordable.gov/ 
Struggling homeowners can avoid scams by doing research and understanding all their options when looking into mortgage modifications.  The Mortgage Law Group encourages homeowners to seek professional help and/or legal assistance when making a decision to hand out your money.  Don’t let a scammer take advantage of you.
For loan modification help, call The Mortgage Law Group now : 888.591.6555

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