The Washington State Attorney General's Office recently released a press release about scammers who prey on homeowners who need or want a modification of their home loan. A key feature of the scam is the requirement to pay hefty up front fees before the scammers say that they will perform their service. Their promise is to save you big dollars in reduced mortgage payments.
Watch out for companies that:
Contact you.
Demand large fees upfront.
Claim ridiculously high success rates.
Ask for bank account information in order to withdraw funds.
If you are having trouble paying your mortgage or are in danger of foreclosure you do not need to turn to scammers for help. You can go to the Washington State Homeownership Information Hotline for free help at 1-877-894-HOME or online at www.homeownership.wa.gov.
Go to http://www.atg.wa.gov/BlogPost.aspx?id=25870 for more information and an interview of a recent victim.
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