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- Loan Modification Scam Prevention Network In the midst of the current economic turmoil and foreclosure crisis, millions of distressed homeowners have become vulnerable targets to unscrupulous and sometimes criminal third-party scammers, con-artists, and thieves. These homeowners, desperate to keep their homes, are at risk from individuals and companies posing as “loan modification specialists,” some of whom are the very people who previously peddled subprime loans. The alleged “rescuers” employ various scams with disastrous consequences for homeowners: phantom foreclosure counseling, lease-back or repurchase scams, fraudulent refinance, fraudulent loan modification, bankruptcy foreclosure, and reverse mortgage fraud. While waiting for the promised relief, homeowners not only lose their money but often fall deeper into default and lose valuable time. In response, a coordinated national campaign has been initiated to strengthen the fight against these scammers and support existing efforts at the national, state and local levels. Learn More »
