Loan Modification Scams

Loan Modifications Scams in Pennsylvania

Philadelphia Loan Modification Attorney

With foreclosure rates at an all-time high, scams have proliferated, drawing in desperate homeowners seeking relief from foreclosure only to find out later that they have been scammed. One of the most common scams involves "loan counseling" companies promising to rescue homeowners from foreclosure by negotiating with your loan company for a fee. The loan "counselor" advises the homeowner to pay their mortgage payments directly to him and not to contact the loan company directly; after a number of payments, the loan "counselor" disappears.

Fake "government" modification programs are another common scam, where the scammer's company name appears to be a government program, but in reality is not. The scam promises the homeowner entry or acceptance into a so-called government program for an upfront fee, and then results in no modification program eligibility at all. At the Law Office of Michael P. Forbes, PC, I have seen many unsuspecting homeowners drawn into these and other scams after they have come to me for advice on how to get their money back from the scammers. A loan modification program is an alternative that could greatly benefit you, and I can help.

How You Can Avoid Loan Modification Scams

Don't be sucked into these scams. Contact an experienced loan modification lawyer first to become fully advised on the existence of any loan modification programs you might qualify for by calling my firm now. Rent-to-own or leaseback schemes, where the homeowner is advised to deed their home to another title holder, and then rent the property back from the new owner for a period of time is another popular scam.

The promise is that the homeowner's credit will improve by surrendering the title to their home, and then after a period of time, the new owner will sell the house back to them. However, the problem is that the new title owner disappears and never agrees to sell the house back to the original homeowner. In the process, the mortgage default has proceeded to a foreclosure.

Contact my office today and schedule an appointment where we can sit down and assess the situation fully.

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    Michael P Forbes


    Mr. Forbes has always been driven by the desire to help others. With that in mind he began his law career representing indigent families in the Philadelphia family law system for seven years.

    Let’s Make Bankruptcy your Last Resort!

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