Thursday, August 3, 2017
How To Spot A Mortgage Modification Scam
With a questionable economic and political future, everyone is trying to do all they can to save a dollar and secure their financial future. For most of us that means holding down a job and cutting back on expenses. Unfortunately, not everyone subscribes to the idea that money should be made honestly and there are plenty of scammers out there waiting to trick people out of their hard earned wages. You have to be careful to avoid these people and companies if you want to hang on to you cash, and sometimes it takes knowing what to watch out for to stay safe.
If you are thinking about modifying your mortgage, you no doubt have done some research to see what options are available to you. The web is full of information, but not all of it is accurate and not all of the “offers” you come across will be legitimate. Here are some ways to spot a mortgage modification scam:
• If you are asked to make a down payment, the person or company you are dealing with is probably not trustworthy.
• If you are given a guarantee that your loan will be modified, or will be modified a certain way you are likely not dealing with an honest vendor.
• If you are guaranteed a pending foreclosure will be dismissed you are talking to the wrong person or company.
• Do not agree to pay for help instead of making your mortgage payment. While reputable people do charge for their services, they will not advise you to pay them instead of your making your house payment.
• Never give your personal or financial information to someone over the phone, or to someone you have not met. Plenty of companies make cold calls to solicit business, but then offer no real help. Request an in person meeting before turning over any of your private information.
You have enough on your plate if you are trying to modify your mortgage; there is no need to add to that burden by dealing with a dishonest company. Our firm has years’ of experience helping people get out of debt, and can offer solutions that meet your needs.
For more information about how to avoid a mortgage modification scam, call us today or reach us online at www.law-ri.com. We have multiple locations to serve you and can schedule a time to meet at the office most convenient for you.