3 Types of Mortgage amp Housing Scams to Watch Out for
3 Types of Mortgage & Housing Scams to Watch Out for Skip to content
Motley Fool Stock Advisor recommendations have an average return of 397%. For $79 (or just $1.52 per week), join more than 1 million members and don't miss their upcoming stock picks. 30 day money-back guarantee. Sign Up Now You shouldn’t have to pay. As with many scams, one of the first tell tale signs is a request for payment. Real government programs, such as Making Home Affordable, are generally free. If you are ever informed that you will have to pay for government assistance, it’s most likely not the real deal.Always ask for identifying information. No matter how trustworthy a person may seem, always question who you are speaking with. If someone claims they are working with the government or an affiliated agency, get as much information from them as you can. This should include: their full name, phone number, government email address (I don’t think the federal government uses Hotmail), office location, and the names and contact information of any supervisors.Offer to come by their office. Tell the person that you would prefer to discuss everything in person. If they go as far as giving a physical address, take note and look into it later.Wait for a website. Keep in mind that any real government official will, more often than not, offer you a link to a government website for more information about whatever they’re offering. When pressed for information, most of these con artists will give up. They are looking for easy, gullible targets, and won’t want to waste their time on someone with their guard up.
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By Kalen Smith Date September 14, 2021FEATURED PROMOTION
Recession-related job loss, cut backs, and bank crackdowns have left many debt-mired homeowners wondering what they can possibly do to save their homes from foreclosure. Unfortunately, for every downtrodden soul, there is a scumbag con artist waiting to take advantage. These crooks disguise themselves as well-meaning, competent professionals who are capable of helping honest people avoid foreclosure. But, behind the masks, their eyes are targeted at your checkbook, or the title of your home, in some creative mortgage reconstruction scams. Keep an eye out for these warning signs and make sure you don’t become their next victim.Types of Mortgage Housing Scams
1 Fake Government Employees
The phone rings and it’s someone from a government agency or company you’ve never heard of, offering to enroll you in a program that will save your home. Seem to good to be true? It probably is. If you ever find yourself on the receiving end of one of these calls, remember:Motley Fool Stock Advisor recommendations have an average return of 397%. For $79 (or just $1.52 per week), join more than 1 million members and don't miss their upcoming stock picks. 30 day money-back guarantee. Sign Up Now You shouldn’t have to pay. As with many scams, one of the first tell tale signs is a request for payment. Real government programs, such as Making Home Affordable, are generally free. If you are ever informed that you will have to pay for government assistance, it’s most likely not the real deal.Always ask for identifying information. No matter how trustworthy a person may seem, always question who you are speaking with. If someone claims they are working with the government or an affiliated agency, get as much information from them as you can. This should include: their full name, phone number, government email address (I don’t think the federal government uses Hotmail), office location, and the names and contact information of any supervisors.Offer to come by their office. Tell the person that you would prefer to discuss everything in person. If they go as far as giving a physical address, take note and look into it later.Wait for a website. Keep in mind that any real government official will, more often than not, offer you a link to a government website for more information about whatever they’re offering. When pressed for information, most of these con artists will give up. They are looking for easy, gullible targets, and won’t want to waste their time on someone with their guard up.