Loan Modification Scams

Over the past year or so there has been a huge increase in the number of businesses offering loan modification services, a field that previously was not known by many. So because of this a large increase of complaints to the Federal Trade Commission (FTC),  Attorney General (AG) and the Department of Real Estate (DRE) have also taken place. Resulting in many of these scam companies being sued and subsequently shut down.
 
Homeowners who are behind on their payments will often get contacted by a company who claims they offer special loan modification services. Beware of this, if your home is in the foreclosure stage it is posted in public records (like the newspaper) and that is probably how these companies found you.
Read more