Friday, May 8, 2009

Warnings about loan modification scams

There should not be a fee to get information from either your lender or a HUD-Approved housing counselor.

Governor Jan Brewer is warning homeowners about unlicensed mortgage loan modification companies.

They promise to keep homeowners behind on payments from losing their homes to foreclosure, but end up scamming consumers.

Gov. Brewer urges consumers to beware of any person or organization that asks for a fee in exchange for housing counseling services or loan modification. There should not be a fee to get information from either your lender or a HUD-Approved housing counselor.

Free assistance is available by calling 1-877-448-1211. More information can be found on the web sites for the Arizona Department of Housing, the Arizona Department of Financial Institutions

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