NeighborWorks America Warns Homeowners That Rescue Scams May Sound Like New Government Foreclosure Help Programs
The Loan Modification Scam Prevention Network(LMSPN) in conjunction with National Consumer Protection Week (NCPW), March 4-11 is alerting homeowners to combat loan modification scams, especially those that may appear to be help from one of the various new foreclosure assistance programs recently announced by the government. This effort, led by NeighborWorks' nationa l Loan Modification Scam Alert campaign, the Homeownership Preservation Foundation's Homeowner's HOPE Hotline and the Lawyers' Committee for Civil Rights Under Law's Prevent Loan Scams campaign, is designed to help homeowners protect themselves against loan modification scams, find trusted help and report illegal activity to authorities. Since the coalition's launch two years ago, more than 21,000 people have reported loan scams in the Lawyers' Committee's national Loan Modification Scam database, and it’s believed that many more homeowners have been affected. The six most important loan modification scam warning signs can be found at www.loanscamalert.org.