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Did you know that bogus mortgage modification schemes made the Better Business Bureau’s list of “Top 10 Scams of 2011?” To mark National Consumer Protection Week, HUD is launching the second phase of “Know it. Avoid it. Report It.”, an anti-scam prevention campaign designed to educate consumers on loan modification and foreclosure scams.
Con artists and thieves target distressed homeowners who are looking for help to save their homes. Struggling homeowners are lured to scammers when they see or hear commercials on television or radio that promise to save them from losing their homes to foreclosure. Scammers also send mail directly to the homeowners stating, “Payment Relief Notice” or “We Can Save Your Home.”
HUD introduced the Know It. Avoid It. Report It. campaign in 2011 in Miami, Chicago and Los Angeles as a way to inform struggling homeowners about the importance of working with HUD-approved agencies as they fight to save their homes. Today, HUD is launching this anti-scam campaign in Atlanta.
To learn more about the signs of mortgage relief scams and avoid being scammed, HUD encourages homeowners to call 1-888-995-HOPE (4673) or visit www.hud.gov/preventloanscams to get the facts about fraud, and report suspected scammers.