Foreclosure Rescue Scams

The Office of Thrift Supervision has issued a warning detailing foreclosure scams. Avoid anyone who wants to charge a fee for helping you avoid foreclosure or reduce your monthly mortgage payment. Government services are fee and can be found at MakingHomeAffordable.gov.

 

Foreclosure rescue scams target homeowners facing foreclosure, particularly if they are equity-rich but cash-poor. Rescue scams cost consumers thousands of dollars and, often, their most valuable asset — their homes.

With foreclosure rates on the rise, foreclosure rescue scams are also increasing. The elderly, and people with low incomes or blemished credit, are particularly vulnerable.

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