Pennsylvania Mortgage Modification Fraud
There are 5 common ways that con artists and scammers will try to take advantage of you here in Pennsylvania. Learn about these so that you will know what to watch out for:
Charging You Upfront
One of the most important things that distressed homeowners need to remember is that they should never be asked to pay anything up front. The only people who should ever ask you to pay any money at all is the lender that owns your mortgage or servicer who collects for the lender.
Charity Or Government Affiliation
While there are housing relief charities that exist, a common fraud tactic is for the con artist to present themselves as a non-profit or a representative of the government. They will also use seals and government names to make them seem more legitimate. Be leery of anyone who approaches you like this and speak to your lender before you take any action.
Asking You To Transfer Your Deed
Under no circumstances should you transfer the deed to your property to anyone but the bank that owns your mortgage. Some people will ask you to do this under the promise that they will save the property. The problem is that once you sign the deed over, you forfeit all legal rights to the property.
Advising You To Stop Contacting Your Lender
In any circumstance, your lender will ultimately make the decision as to what housing relief options you will be eligible for. When scam artists ask you to stop contacting your lender, they are doing so specifically so that you will be uninformed and forced to rely on them. Never cut off contact with your lender. Not only will you be uninformed, it will actually make it more difficult to come up with any solution at all.