Credit Repair and Mortgage Fraud Scams…

The Network developed PreventLoanScams.org to provide home-owners with a single destination to report alleged scammers. Complaints filed online are added to a national complaint database and forwarded to the appropriate law enforcement agencies for review. The Network estimates that the website will assist approximately 50,000 homeowners affected by scams. Additionally, HUD has directed its local fair housing and housing counseling grantees to begin reporting alleged loan modification scams via the website.

The creation of a national complaint database is a major step in the fight against loan modification scams. Prior to the launch of PreventLoanScams.org, federal, state, and local government agencies could not share complaint data with non-profit organizations. The new system allows for better analysis of trends across jurisdictional lines and will likely lead to an increase in private enforcement action filings.

As always: If it sounds too good to be true… it probably is! Use local, knowledgeable professionals in all your financial dealings and take advantage of these FREE government sponsored programs to research or report possible scams.

But please be careful out there… Scammers frequently use official sounding sites and titles to lure you. Be sure to check out any organization offering help and wanting you to pay up front, pay them directly, ask for your social security or credit card number, are willing to falsify information to make a loan application work for you, have must act today programs or otherwise offer you a deal that nobody else can!

For additional resources, visit: http://DavidParrishRealtor.com/DontBeScammed (case sensitive).

Hope your summer is grand and that you got to the beach before the oil!

May the market be with you.

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