Don’t Be Fooled By Fake Federal Assistanceby Tim Manni
That’s just one piece of important advice being offered by the Office of the Comptroller of the Currency’s “Consumer Tips for Avoiding Mortgage Modification Scams and Foreclosure Rescue Scams.” The OCC’s latest consumer advisory, released this week, warned homeowners not to be fooled by professional-looking advertisements, commercials, face-to-face introductions, and especially fake Federal or governmental services.
For example, “Call 1-800- Fed-Loan,” may be a scam warns the OCC. “Some companies trick borrowers into believing that they are affiliated with or are approved by the government or tell you that you must pay them high fees to qualify for government loan modification programs.” Legitimate Federal programs will never require payment for their assistance.
Be sure to read the OCC’s entire release of consumer tips for a full description of the types of scams out on the market right now, ways to protect yourself, as well as the legitimate websites and telephone numbers offering counseling, and loan mod and foreclosure-assistance services.
HSH.com has also designed a page full of foreclosure assistance resources from not only government-sponsored programs, but those underway at some of the nation’s top banks as well.