LOAN MODIFICATION SCAMS
It is obvious that the scammers are very active right now. They have many ways to take advantage of desperate and distressed homeowners in today's real estate market. One of the best things a homeowner can do to protect him or herself from these scammers is to work with a licensed professional. Mortgage and real estate licensees are trained in how to help homeowners who face these very problems. As your Real Estate agent, please know that I am available for questions.
Here is a list of simple things homeowners can do to protect themselves:
Make sure that the loan modification company is • licensed with the Division of Real Estate.
Do not work with any individual or company that is not licensed.
Talk to your lender or servicer directly. Let your lender know your problems, and discuss ways you might resolve the issues
Never make your mortgage payment to a third party.
Do not pay an up-front fee. Do not pay any • fees until you receive a written offer from your lender or servicer for modified loan terms.
Do not stop making your mortgage payments. • Doing so will put you closer to foreclosure.
Do not sign a quit claim deed to another property.•
Do not sign any documents in blank. • Make sure your read what you sign.
If you think you are being scammed, file a complaint with the Division of Real Estate.
All "Betts" on Brian! The Only Realtor you Want!
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