Don’t Fall for Mortgage Scammers

At the 4th District meeting Wednesday there was a presentation about lowlife that prey on residents having mortgage troubles. Unfortunately these scams are becoming common as folks struggle to make ends meet.

There are three promises that should alert you to a scam.

1. Asks for a fee in advance.
2. Guarantees that they’ll stop a foreclosure or modify a loan.
3. Tells you to stop paying your mortgage company and to pay them instead.

To learn more about some of the scams that are out there, visit www.LoanScamAlert.org.

If you need help call 1-804-354-0641 for loan modification guidance from a HUD-approved counseling agency or to report a scam. You can also head over to www.phonehome.org.