More home owners are being tricked into a fake forensic loan audit, a new scam that targets struggling home owners looking for a loan modification to save their home from foreclosure.
Several scam organizations, usually linking themselves to attorney and loan auditors, have popped up in the last 2 years offering forensic loan audits.
In the scam, the organizations claim to review a homeowner’s mortgage loan documents to determine whether their lender had complied with state and federal lending laws. They then promise to get the home owner a quick loan modification and possibly a principal reduction on their mortgage too. Home owners pay an upfront fee usually around $3,000 or even more.
However, home owners say that they aren’t getting a loan modification and usually nothing happens after they pay the upfront money.
They lure homeowners to believe that by hiring them for a review of a loan modification package, they can expedite the process and get better results, or they make false promises that they can get a loan modification and/or principal reduction. Homeowners are not typically getting any results at all. The scammers are just taking the money and disappear.
As always it is always better to deal with your own lender or call a lawyer as opposed to you replying to an unsollicited offer.
Several scam organizations, usually linking themselves to attorney and loan auditors, have popped up in the last 2 years offering forensic loan audits.
In the scam, the organizations claim to review a homeowner’s mortgage loan documents to determine whether their lender had complied with state and federal lending laws. They then promise to get the home owner a quick loan modification and possibly a principal reduction on their mortgage too. Home owners pay an upfront fee usually around $3,000 or even more.
However, home owners say that they aren’t getting a loan modification and usually nothing happens after they pay the upfront money.
They lure homeowners to believe that by hiring them for a review of a loan modification package, they can expedite the process and get better results, or they make false promises that they can get a loan modification and/or principal reduction. Homeowners are not typically getting any results at all. The scammers are just taking the money and disappear.
As always it is always better to deal with your own lender or call a lawyer as opposed to you replying to an unsollicited offer.
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