The number of swindlers victimizing homeowners troubled by foreclosure has been rising across the country, promising foreclosure prevention and then disappearing after collecting advance fees.
Incidents of mortgage loan fraud have increased as lenders tighten their loan requirements to reduce their risks of lending to borrowers that later become delinquent and that add more homes to foreclosure listings.
If you are a distressed homeowner troubled by foreclosure listings, you might qualify for Obama's program, including some grants. Keep in mind that these funds are available to you even without the help of swindlers that persuade you to think otherwise.
There are legitimate foreclosure-prevention counselors and servicers who can help you. But there are also many scammers and fraudulent servicers out there taking advantage of homeowners troubled by the real possibility of foreclosed homes.
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