Mortgage foreclosure scams — which
seek to dupe struggling home owners with offers to save them from
financial troubles — have soared nearly 60 percent this year. Scammers
are increasingly using federal programs, like refinance programs such as
HARP and HAMP, to try to trick home owners, reports the Homeownership
Preservation Foundation (HPF), a nonprofit group that helps home owners
avoid foreclosure.
“Every new government initiative spawns a slew of foreclosure
avoidance scams, often from the same cast of characters doing business
under various names to avoid easy detection and identification,” says
Colleen Hernandez, CEO of HPF. “Most of these scams involve individuals
supposedly offering mortgage foreclosure avoidance assistance that
trained HPF counselors provide at no cost. Sadly, with most scams, no
meaningful services are ever provided.”
About half of the reported scams to HPF tend to involve claims of
specialized “legal services” from attorneys or individuals to help home
owners avoid foreclosure.
The HPF warns that scammers also are using the HPF logo and brand to try to dupe home owners in foreclosure rescue scams.
“The only way distressed home owners can be certain they are dealing
with a trained HPF counselor is by calling 888-995-HOPE,” Hernandez
says.
Source: Homeownership Preservation Foundation
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