Another scam nailing homeowners
Scams will never end if there is money to be made, but with a down economy and homeowners desperate to save a dollar or heck, save their home, they are willing to try anything that sounds legit. The problem is, of course, that there are so many schemes going on that it is difficult even for experts and investigators to determine the legitimacy of these mortgage schemes.
Realtors across America are getting phone calls asking about various programs and it is difficult to be aware of all of them, so it is a good idea to know some of the red flags.
“The FTC says that when it comes to mortgage fraud, the big red flags are promises to stop foreclosure, instructions to stop talking to your lender and — again — those up front fees,” Channel 13 Houston reminds us.