MORTGAGE RESCUE SCAMSMany homeowners desperate to save their homes from foreclosure have paid thousands of dollars to companies and individuals who promised to help save their homes and avoid foreclosure with either a loan modification or with a mortgage rescue plan. Sadly, many of these have been SCAM operators– taking money, but not providing any help—only getting the homeowner in more debt!
BEWARE OF & REPORT FORECLOSURE RESCUE SCAMS!BEWARE of anyone who asks for an upfront fee for getting a loan modification.
BEWARE of anyone who says they can “save” your home if you sign or transfer over the deed to your home so you can catch up on your mortgage payments or refinance your loan.
NEVER pay fees for foreclosure prevention help. There are well trained, professional, not for profit housing counselors who can help you negotiate with your lender for free.
NEVER submit mortgage payments to anyone other than your lender without their approval.
New York prohibits “distressed property consultants” (individuals, corporations or other entities that promise to stop or delay a foreclosure or tax sale) from charging any fees before fully completing their services. There must be a written contract setting out the services to be provided and the cost.
TIPS AND INFORMATION:
- Foreclosure Rescue Scam Prevention Guide (pdf)
- Warning Signs of a Predatory Mortgage Loan (pdf)
- DOWNLOAD THE RESCUE SCAM BROCHURE (English)(Español)
- Report the scam to the New York State Attorney General