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Protect Yourself: How to Avoid Mortgage Scams and Foreclosure Risks

In today's economy, many homeowners facing foreclosure become easy targets for scammers promising financial miracles. If you're behind on mortgage payments, be cautious of offers that seem too good to be true. Scammers often employ slick sales pitches, urging you to sign documents that could worsen your financial situation. Be proactive: obtain expert advice from licensed Realtors and refrain from giving out personal information or paying upfront fees. If you're already a victim of a scam, contact the FTC and alert your mortgage lender immediately to safeguard your interests.

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Protect Yourself: How to Avoid Mortgage Scams and Foreclosure Risks

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Presentation Transcript

  1. Don’tGetCaught In A MortgageScam!

  2. The Perfect Situation for Scammers • So many facing foreclosure = perfect opportunity for scammers • You feel as though you need a miracle & suddenly someone is offering one to you • If you get scammed you most probably will end up even worse off than you already are financially

  3. How It Starts • You start getting further & further behind on your mortgage payments • Tons of advice is available all for free & all from “non-experts”; you need EXPERT advice • Your best bet is to act immediately & get a licensed Realtor to help you work with your lender before it gets too out of hand

  4. The Scammers I can save your home.. just sign here & all your problems are solved! Trust me! I’ve helped hundreds of people just like you. • Slick • Perfected sales pitches • Make offers you’ve been praying for… miracles answered • DON’T FALL FOR IT!TAKE MATTERS INTO YOUR OWN HANDS INSTEAD!!!!!

  5. How To Avoid a Scam • Never freely give out information regarding your mortgage lender • Be very leery of anyone offering services that will save your home for an upfront fee & mortgage payments made through them • Never sign your Deed over to anyone; including a Quit Claim • Don’t make “mortgage payments” to anyone except your lender unless you are specifically told by your lender otherwise • Don’t trust anyone who uses high pressure tactics to sign papers “now or it may be too late”

  6. What If You’ve Been Scammed? • Call the FTC to report the scammers • Their hotline is 1-877-FTC-HELP • 1-877-382-4357 • Contact your mortgage lender immediately & explain what happened Your Mortgage Lender

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