Media contact: Janet C. Hart, CFEE (704) 927-8617 office
CHARLOTTE,
N.C. – March 4, 2009 - Today, President Barack Obama announced mortgage
modification and refinance guidelines for lenders and servicers to help
struggling homeowners. New initiatives provide new ways for sophisticated
scammers to take advantage of consumers.
If you
need to modify or refinance your mortgage, the BBB has the following advice:
Call your lender directly – Do not reply to emails or
telephone calls from companies claiming to be your lender and offering to
“help” you. Scammers are very sophisticated at posing as financial institutions
and government agencies to try to get your personal information.
Don’t fall for advertising that promises to “rescue”
you from mortgage foreclosure problems – These are almost always scams. Talk to your
lender – they want to help you stay in your home. Nearly 50% of all homeowners
who lose their homes to foreclosure never speak with their lender.
Do not pay an advance fee for mortgage
foreclosure/modification assistance services. The N.C. Debt Adjusting Act of
2005 made it illegal for a debt adjusting company to charge an advance fee for
their services.
Check with the BBB. You can check a company out at www.bbb.org or by calling 1-877-317-7236 (toll-free
in N.C. and S.C.). There are many legitimate credit counseling services
that can help you work through your financial issues and the BBB can help you
find out.
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