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Fraudulent Loan Modification Scam
This scheme, which is becoming increasingly common, involves a scammer who pretends to help a distressed borrower renegotiate their mortgage with their lender, only to redirect the payments to the “rescuer” without the lender’s knowledge.
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. Home Mortgage Loan Scam to Watch Out for – Fraudulent Loan Modification is brought to you by SimplifyEm Pay Rent Online and Property Management SoftwareYou might also want to read:
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- Home Mortgage Loan Scam to Watch Out for – Bankruptcy Foreclosure In this scheme, the scam artist purports to negotiate a refinancing with the homeowner’s lender after collecting an upfront fee from the homeowner. Instead of contacting the lender, however, the......
- Home Mortgage Loan Scam to Watch Out for – Bait and Switch Scams A bait-and-switch scam is where the homeowners do not realize they are surrendering ownership of their houses in exchange for a “rescue.” Either the sale documents are forged or the......
