DC Fawcett says that Loan modification is usually used to forestall foreclosure of homes. But scammers take advantage of loan modification.”There were about 35000 loan modification complaints recorded by Neighbor Works America from the period of 2009 to 2013,” says DC Fawcett – a real estate investor and educator.
Dc Fawcett Scam
Many loan modification scams begin with a voluntary call to offer services for lowering mortgage payments or to completely escape from foreclosure. In case of mass re joinder law suites against unscrupulous money lenders, the caller usually asks for fees in advance. This fees is the indicator of a scam because while there are mass re joinder law suites, lawyers don’t take money until a legal decision is taken. Dc Fawcett Scam
Seven suspects were charged of loan modification scams in 2014. They fleeced desperate homeowners who were trying to keep their homes during times of crisis. They told them that they had contacts with money lenders who would lower the monthly payments. Homeowners were told that they would obtain a refund if they were dissatisfied with the terms. These suspects charged upfront fees for that .