April 18, 2011

HUD Wants to Keep You from Getting Scammed

Written by:

Our guest blogger today is Joel Ibanez, Office of Housing, Federal Housing Administration

Think scammers could never fool you?

Think again. Plenty of people fall prey. More than $31 million in fees and/or homes were reported lost to thieves and con artists in 2010.

That’s why today, HUD is launching a new campaign in Miami, Chicago, and Los Angeles called “Know It. Avoid It. Report It.” This campaign has two objectives:
•  Ask all homeowners to help in shutting down scammers who regularly target the elderly, Hispanics and African Americans
• Direct homeowners facing foreclosure to trusted resources and government-approved housing counselors who can help homeowners for free.

We’ll do this by reaching out to you, homeowners, to show you how to recognize scammers’ tricks and give you anti-scam tools to report fraudsters. We’ll also work closely with our federal, state, local, and non-profit partners who can provide you with additional resources, advice, and protection.

Visit hud.gov/preventloanscams, and here’s what you’ll find:
•  Information on how to avoid becoming a victim
•  Scam artist red flags and fraud warning signs
•  Complaint form and hotline to report fraud or suspicious activity
•  Resources for finding HUD-approved counselors and free housing workshops in every state
•  Names of individuals and companies identified by law enforcement agencies who have allegedly committed loan modification fraud or foreclosure relief scams

Even if your home is safe, it’s important to help protect your neighbors from fraud. Doing so helps not only your neighbors and your local economy, but also your property value. Foreclosures in your neighborhood may cause your home to lose value, putting you in an upside-down mortgage and making you prey to scammers. Fighting fraud may help reduce crime near your home, as well. Foreclosure houses may stay vacant for long periods, attracting drug users and vandals.

How can you help? Take three simple steps: “Know It. Avoid It. Report It.” Learn how to stop scammers in their tracks, and help HUD spread the word about this important campaign. Find out more today:
•  Visit hud.gov/preventloanscams
•  Call 1-888-995-HOPE (4763)
•  Like HUD on Facebook: facebook.com/HUD
•  Follow HUD on Twitter: @HUDNews

We look forward to joining with you to stamp out fraud.

5 Responses to HUD Wants to Keep You from Getting Scammed

  1. I would like to know what the “scam of the day” is. My husband is a senior citizen and watches a lot of TV. He hears about a lot of things that look good, but I then have to inform him they are scams.
    I think it is a good idea to add to our information pool! Thanks.

  2. What I found is the mortgage co. are doing the scamming now.After a year of trying modify my mortgage I finally got approval for the goverment program,I started the three month trial period had my automatic withdrawal set for payments.The first payment went through then I get a letter that my mortgage co. is selling my mortgage.What I found out is that the new mortgage co. doesn’t have to continue my modification and i have to start all over again.As if the process isn’t stressfull enough they just pull the rug out from under you.I am frustrated beyond words.This is a scam within the mortgage buisness so beware.

    • I got a Fannie Mae Making Home Affordable plan. I went to make my 1St payment over the phone, as BOA suggested and
      they knew NOTHING about my new payments. This Bank can’t keep it’s promises. They even wanted me to Fax them the
      letter I received showing what my payments were for the
      first 3mo!!!! BOA is screwing people left and right and I
      can’t believe I got my new Modification with a face to face interview with a BOA rep.! I can’t take any more stress from BOA. I’m ready to give them my house.

      • I TOO HAVE A FHA loan with BOA,I want to get a Obama Administration approved home modification, they asked me to send or fax everything, I want to go and sit down face to face,how can i find out where to go in Fort worth Texas?

  3. I wanted to know if a Company call OGI Morgage bankers
    is a reliable Co. Im tiring to get refinanced.

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