Scam Prevention

Guarantees and Promises: Be wary of a company or individual that "guarantees" or "promises" a loan modification or any other outcome involving your mortgage. Legitimate organizations and individuals can only promise they'll work hard for you. They can't gaurantee results and they can't gaurantee you'll keep your home.

Upfront Fees: It's almost always illegal to ask for money upfront in exchange for loan modification services.

Stopping Payments: Watch out if you're asked to stop making regular mortgage payments and to pay the assistance company instead. Never send your mortgage payment to anyone other than your mortgage lender or servicer.

Confusing Language or Paperwork: Do not sign anything you don't understand, and be wary of anyone who pressures you. If you have questions, ask. A trustworthy individual or organization should make sure you understand what you're signing before you sign it.

Transferring Ownership: Never turn over your deed or transfer ownership of your home to a mortgage assistance company. A trustworthy organization or individual will not ask you to do this!

Aggressive Sales Pitches: Be wary of companies that call you and suggest you will lose your home without their assistance. Legitimate organizations should not aggressively pursue you as a client.