"Their scams start with a phone call, a mailing, or an advertisement promising help." Those are the words of Robert E. Story, Jr., Chairman-Elect of the Mortgage Bankers Association to the House Financial Services Subcommittee.
Mr. Story Jr. discussed mortgage and foreclosure rescue fraud companies preying on distressed home owners. Mr. Story Jr. described the deceptive practices these companies are involved in that scam unsuspecting home owners out of thousands of dollars. His plea was for Congress to appropriate additional funding for the FBI to investigate and prosecute fraud.
If you are approached by someone offering to help you avoid foreclosure you need to check the person or company out thoroughly before getting involved. Contact a lawyer, your mortgage provider or a HUD-approved counselor. MBA Press Release
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