If you’re having trouble paying your mortgage, we can help you get connected to a HUD-approved housing counseling agency at no cost to you. The counselor can help you work with your servicer or lender to try to avoid foreclosure, organize your finances, understand your mortgage options, and find a solution that works for you.
How to spot a scam
Mortgage loan modification scams are designed to take your money by making a false promise of saving you from foreclosure. Scammers may:
- Ask you to pay high fees upfront to receive services,
- Promise to get you a loan modification,
- Ask you to sign over title to your property,
- Ask you to sign papers that you do not understand,
- Say you should start making payments to someone other than your servicer or lender,
- Claim to be conducting a “forensic audit,” or
- Tell you to stop making mortgage loan payments altogether.
Companies that offer mortgage relief services aren’t allowed to collect any fees until they give you a written offer from your servicer or lender that you decide is acceptable. A mortgage relief company must also tell you that:
- The company is not associated with the government;
- Your lender may not agree to modify your loan; and
- If the company tells you to stop paying your mortgage, that you can lose your home and damage your credit.
If you think you have been scammed
File a complaint online or call us at (855) 411-CFPB (2372) from 8 a.m. – 8 p.m. ET, Monday-Friday.
It can be hard for people to talk about finances, especially if they’re in trouble. Even if you’re not facing foreclosure yourself, please share a link to this advice with your networks using the hashtag #ForeclosureHelpisFree. You’ll never know who you might be able to help.