Term Mortgage Modification Scam Reporting
Code FN-1700.1470-523
Definition Programs that provide a hotline or other mechanisms that people can use to report incidents in which scammers guarantee that they can "save" a person's home or lower their mortgage payments, or make other related promises they can't keep. They sometimes even claim that they have direct contact with the individual's mortgage company. Only a person's mortgage company has the discretion to grant a loan modification, so no third party can guarantee or pre-approve a person's mortgage modification application. These types of scams may also involve individuals and companies insisting that payments be sent to an alternate contact or address that is different from the information in their mortgage statement, or attempt to persuade them to transfer their property deed.
Created 11/8/18
Changed 1/10/19
Use References Foreclosure Rescue Scam Reporting
See Also References Foreclosed Property Redevelopment Programs (TB-3000.2000)
Foreclosure Filing Offices (FJ-1600.2000)
Foreclosure Prevention Loan Modification/Refinancing Programs (BH-3500.3400-300)
Foreclosure Records (DF-7000.2270)
Home Purchase/Mortgage Refinance Loans (BH-3500.3400)
Impersonation Scam Reporting (FN-1700.1470-322)
Mortgage Company Complaints (DD-1500.6000)
Mortgage Delinquency and Default Counseling (DM-1800.5000)
Mortgage Fraud Reporting (FN-1700.1470-520)
Mortgage Payment Assistance (BH-3800.5000)
Predatory Lending Assistance (DM-1800.6400)
Predatory Lending Awareness Programs (BH-3700.6500)
Reverse Mortgage Programs (LH-4000.7000)
External Classification Terms Criminal Law Enforcement (UW
Law Enforcement (UW
Law Enforcement (NTE I60)
Law Enforcement Agencies (NPC I04)
Legal, Consumer and Public Safety Services (AIRS LE-450)
Legal/Public Safety (CAN LP-450)
Related Concepts Homelessness
Facet Service
Bibliographic References "Avoiding Mortgage Modification Scams", Bankrate website, https://www.bankrate.com/finance/mortgages/avoiding-mortgage-modification-scams-1.aspx

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