• SOURCE: NeighborWorks America

Expert Tips On How To Spot Loan Scams

ID

371663

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.mp3 audio package
Transcript
ANCHOR LEAD: The current state of the housing market is still leaving many Americans feeling desperate and vulnerable to loan modification scams. It's National Consumer Protection Week, and Brian Osuch points out some telltale signs you may be dealing with a scammer. (:59) SCRIPT: Newsbreak, I'm Brian Osuch. Homeowners concerned about making their mortgage payments or facing foreclosure may think a loan modification is the only solution to saving their home. But, Barbara Floyd Jones, spokesperson for the NeighborWorks America's Loan Modification Scam Alert campaign says be on the lookout for scammers… CUT: (Floyd Jones) Scammers often pretend to be associated with the federal government program, or say that they are working on behalf of the government. They will also sometimes present themselves as lawyers and often send letters pretending to be from the lender. SCRIPT: Floyd Jones says be wary of any company asking for money upfront – that's illegal. But, there are other warning signs to look out for… CUT: (Floyd Jones) One red flag would include receiving email or written communications from an individual or company stating they're from your lender or from the government asking you for money. SCRIPT: For more, go to LoanScamAlert.org. That's Newsbreak from NeighborWorks America.
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