Foreclosure Scams
4 Questions
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Foreclosure rescue and mortgage modification scams are a growing problem. Homeowners must protect themselves so they do not lose money or their home. As Housing Counselors we should know the follow about foreclosure scams. Click here to view video
Questions and Answers
- 1.Anyone who asks you to pay a fee in exchange for a counseling service or modification of a delinquent loan is a scamer.
- A.
True
- B.
False
- 2.Scam artists often target homeowners who are struggling to meet their mortgage commitment or anxious to sell their homes. Recognize and avoid common scams. Homeowner should beware of anyone who:
- A.
asks you to pay a fee in exchange for a counseling service or modification of a delinquent loan.
- B.
Calls to offer free advise as to how to sell their home that is in danger of foreclosure.
- C.
Both A and B
- 3.A reputable counselor will not guarantee to stop the foreclosure process, no matter what your circumstances. Working with a legitimate counselor can certainly increase your chances of keeping your home--but be wary of people who promise a sure thing. Again, get the details of your transaction, along with any promises, in writing first.This is good advice
- A.
True
- B.
False
- 4.According to the video you should _________ work with a nonprofit, HUD-approved counselor.
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