Loan Modification Scams: Fed Tips Released Today
Looks like loan modification scams may be about as bad as we thought they were. This press release just arrived in our box from the U.S. Office of the Comptroller of the Currency, which administrates banks: http://www.occ.gov/ftp/ADVISORY/2009-1.html
Highlight: "Remember that your mortgage lender should be the starting point for finding options to avoid foreclosure. You also should consider contacting qualified and approved credit counselors."
Don't pay outrageous upfront fees! Talk to your lender first.
Also from the OCC press release: "Call (888) 995-HOPE, the Homeowner’s HOPE Hotline to reach a nonprofit, HUD-approved counselor through HOPE NOW, a cooperative effort of mortgage counselors and lenders to assist homeowners."
Comments
Ive tried calling my lender for 3 months and they don't call back. I've sent certified letters and no responce. You can't do it yourself. Need attorney but they don't know how to modify a home. Where do you go and know your protected?
Posted by: Cynthia Peterson | May 1, 2009 04:33 PM
i have done two modification one was gulf shiled in houston, next one is amerihope allinace in fl. plantation. they have not help me at all. amerihope states the foreclosure was stop and today my lawyer call lawyers in houston and closure is in may 5th.
Posted by: Rita Bethany E. Shaw | April 27, 2009 05:46 PM