New Campaign Offers Educational Materials to Fight Loan Modification Scams

WASHINGTON – As homeowners and communities throughout the country continue to face devastating consequences from the deep contraction in the economy and the housing market, the Obama Administration today announced a new coordinated effort across federal and state government and the private sector to target mortgage loan modification fraud and foreclosure rescue scams that threaten to hurt American homeowners and prevent them from getting the help they need during these challenging times.

Unfortunately, too many of these offers are simply foreclosure relief scams. They prey on people who are in horrible financial predicaments that have left them in the position of being about to lose their homes. In this post, we’ll outline the most common scams that homeowners face when they are on the brink of losing their homes.

NEW YORK – Attorney General Eric T. Schneiderman today announced a targeted advertising campaign and consumer education initiative to help New York homeowners spot, avoid, and report mortgage rescue scams. Mortgage rescue scams prey on homeowners who are in foreclosure or at-risk of foreclosure.

NCPW is a coordinated campaign that encourages consumers nationwide to take full advantage of their consumer rights and make better-informed decisions. Through the NCPW site, individuals can find information on a variety of topics, order materials, and help share information about NCPW.

There are several new scams every year, and it’s difficult to keep up with all of them.. To fight scams successfully, educational efforts must. Advance Fee Loan Scams In this scam, a loan.

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Is student loan forgiveness real? The answer is yes, but only if college students take action. Taking action involves researching the various student loan forgiveness options and asking questions to clarify part of the somewhat convoluted language of the original legislation.

Loan modification is the systematic alteration of mortgage loan agreements that help those having problems making the payments by reducing interest rates, monthly payments or principal balances. Lending institutions could make one or more of these changes to relieve financial pressure on borrowers to prevent the condition of foreclosure.

Two national news reports show the devastating effects of loan modification scams. msnbc’s report of a Renton family who lost their home shows just how easy it is to fall victim of these scams. According to the report, the FBI has seen more cases of fraud against homeowners in the first quarter of this year then all of 2008.