During this National Consumer Protection Week event, representatives offered guidance on avoiding financial scams,
including loan modification scams.
Not exact matches
The legislation also expands the state's
loan modification program, which previously
included only subprime borrowers, and prevents «distressed property consultants» from accepting the upfront fees that have contributed to
scams in the past.
Mortgage
scams included property flipping, short sales, foreclosure rescues, reverse mortgage schemes,
loan modifications, and credit enhancements.
The
Loan Modification Scam Prevention Network is comprised of the Federal Trade Commission, the Lawyers» Committee, NeighborWorks America and dozens of national and local agencies and organizations from around the country,
including Fannie Mae, Freddie Mac, the Homeownership Preservation Foundation, the U.S. Treasury Department and the U.S. Department of Housing and Urban Development.