The Department of Health and Human Services announced an additional five billion dollars to assist American families. This money will help families find employment opportunities and other types of assistance.
But the more we hear of available help, the more we hear about scams. Mortgage scams are one of the fastest growing scams in the country. Legitimate government assistance programs are now available for free to help homeowners with adjustable rate mortgages and refinancing homes with dwindling equity.
Scammers are creating their own ways to help troubled homeowners right out of their homes by starting companies with real sounding names and promising to save your home or modify your mortgage. Kathy Graham, President/CEO of the Better Business Bureau of Coastal Carolina warned, "The current market with the housing is a breeding ground for scams and frauds. They're out there and especially with the internet, they're able to create things that look so legitimate and once a house goes into the first stages of foreclosure, that information is public."
There are big warning signs for this type of fraud. For example, if you're asked to pay fees upfront, don't, no matter what.
Don't sign anything without an attorney or someone you know and trust to read it. People are signing away their deeds in some cases, and they must still pay the mortgage.
Keep a check on your deed periodically. Deed and property stealing is on the rise. Scammers look up deeds, mimic the signature and then forge new deed transfers. More than ever, protect your personal information. Do not give out anything to anyone for any reason, ever.
Treasury Secretary Timothy Geithner said today the government will target companies operating under the radar. The FBI is investigating more than 2000 cases and the Federal Trade Commission stepped in to investigate dozens of companies.
You can get information on the government programs on the website: makinghomesaffordable.gov or by calling 888-995-hope.
Other legitimate government websites:
http://www.govloans.gov Loan Opportunities
http://www.fedbizopps.gov Contact Opportunities
http://www.grants.gov Grant Opportunities
http://www.recovery.gov Recovery Act Information
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Ways to avoid mortgage fraud
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SCNow
Published: April 06, 2009
Published: April 06, 2009
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