Beware of Loan Modification Scams
Almost daily our attorneys meet with individuals who have been scammed out of large sums of money with the promise of getting their mortgages modified. A good rule to be reminded of is . . . if it sounds too good to be true, it probably is.
If you receive a call from someone telling you that you can get your mortgage modified if you send them $2,000 (or some other amount). Do not send them money. A third party cannot force your mortgage company to modify your mortgage regardless of the amount of money you pay them. These companies are charging you money for what you can do for FREE.
The best way to modify your mortgage is to deal directly with your mortgage company. Contact the loan loss mitigation department at your mortgage company to discuss your modification options. Usually, your mortgage company will send you information by mail to get the modification process started.
If you have already fallen for this scam, you are not alone! It is important for you to consult with an attorney to understand all of your options.
If you are facing foreclosure or have fallen behind on your mortgage payments, call your local Bond & Botes law office today for a free consultation with an attorney to understand your rights.
Written by: Mary Conner Pool – Bond, Botes, Shinn & Donaldson, P.C. (Montgomery and Selma)
