You should beware of scams, including anyone seeking to charge you for obtaining the foreclosure relief provided under the CARES Act. Also beware of anyone charging you in advance for assistance in modifying the terms of your mortgage. In most circumstances, it is unlawful to charge fees in advance for a mortgage modification. Contact your servicer to inquire about options for modifying the terms of your mortgage.
- Unless you are more comfortable working with an attorney, you do not have to pay anyone to help you keep your home. You can work with a HUD counselor, your servicer, or an attorney to avoid foreclosure. Foreclosure scammers are common and end up just taking your money, without doing anything to actually help you keep your home. Be aware of these foreclosure scam warning signs:
- A request for up-front payment;
- A guarantee that the terms of your mortgage will change;
- A guarantee that you will not lose your home;
- A request to sign over the title to your home or a request to sign other documents that you do not understand;
- Instructions to send your monthly mortgage payment to someone other than your mortgage servicer;
- An offer to do a “forensic audit”;
- Being told to stop paying your mortgage;
- A company that claims to be affiliated with the government or uses a slightly altered government logo.