It's a sad reality that a great number of Americans facing foreclosure become victims of scam artists. As part of a nationwide "Loan Modification Scam Alert" campaign that involved a number of cities across the country, a new website called LoanScamAlert.org has been launched by NeighborWorks America® to help in the fight against these depraved predators. Distressed homeowners who feel they are being preyed upon by scam artists can make a report through the website or by calling 1-888-995-HOPE (4673).
In addition to giving tips on how to spot a scam, the site also features interviews with victims of loan modification scams. It's worth it for all homeowners -- not just those facing foreclosure -- to watch some of these videos. They are an education. As Sun Tzu said: Know thy enemy.
Has anyone out there been approached by a loan modification scam artist? If so, tell us about it.