State officials warned struggling homeowners about a new variation on loan-modification scams: “forensic loan audits.”
Loan Modification Scams
Under the dubious service, homeowners are enticed to pay upfront fees for an audit of their mortgage loan, purportedly to determine their lender’s compliance with state and federal laws. It’s pitched as a way homeowners gain leverage in the loan-modification process.
HUD (Department of Housing and Urban Development) has launched a new online resource to fight loan modification scams. Preventloanscams.org (more…)
