Watch out for foreclosure scams
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Los Angeles County Dist. Atty. Steve Cooley warned homeowners today to be careful to avoid foreclosure-rescue scams.
Some companies offering to negotiate home loan modifications are instead opportunists who “promise quick results for a fee but actually provide nothing,” Cooley said in a news release.
The district attorney encouraged homeowners in financial crisis to consider contacting lenders directly to negotiate loan modifications.
People using third-party loan modification negotiators should “beware of promises involving the payment of substantial amounts of money or the deeding of your home to someone as a way to solve your financial problems.”
“In reality, these predators may steal your money, your home and your hope,” Cooley said.
Anyone looking for foreclosure assistance should consider contacting a housing counselor approved by the U.S. Department of Housing and Urban Development by calling (888) 995-4673, Cooley said.
Additional information about foreclosure fraud is available on the Los Angeles County district attorney’s website.
-- Stuart Pfeifer
