June 19, 2012
According to the Department of Housing and Urban Development, loan modification scams were so prevalent last year that such schemes made the Better Business Bureau’s list of top scams for 2011.
FHA borrowers are not immune from such scam attempts; homeowners complain routinely about contacts from companies claiming to represent the FHA, HUD, and a variety of private lenders. The official site for the Federal Bureau of Investigation warns borrowers to get professional references from any third party contacting them with unsolicited offers of help.
The FBI also cautions FHA and conventional borrowers, “…if you
Joe Wallace has been specializing in military and personal finance topics since 1995. His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. He is a 13-year Air Force veteran and a member of the Air Force Public Affairs Alumni Association. He was Managing editor for www.valoans.com for (8) years and is currently the Associate Editor for FHANewsblog.com.
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