April 23rd, 2009 by Reed Allmand 
As more homeowners face foreclosures, the number of foreclosure scammers looking for a quick buck has increased. Here are some telltale signs that you may be dealing with a foreclosure scammer:
- They claim to have approved you for a mortgage modification that can help prevent foreclosure; but they are not your bank. Only your bank can guarantee mortgage modifications; so if you receive an email or letter from someone other than your bank claiming that they have approved a mortgage modification, it’s probably a scam.
- They’re requesting your financial information. Often scam artists will claim that they can save your home from foreclosure and demand that you send sensitive financial records before “it’s too late.” If you receive an email or letter demanding financial records in order to “save” your home from foreclosure, it’s probably a scam. Even if the email or letter seems official or appears to originate from you bank, call your bank and confirm that they in fact sent the letter before you send any private financial information.
- They ask for upfront fees to qualify for a mortgage modification and save your home from foreclosure. If someone is demanding upfront fees for a mortgage modification they are definitely scam artists. Your mortgage company will never request upfront fees for a mortgage modification.
About Reed Allmand
Allmand's vision is rooted in his own financially precarious childhood in Abilene "My father always had difficulty holding a job and supporting our family, so after my parents divorced when I was 12, my sister and I got jobs to help make ends meet," he recalls. "I remember what it felt like as a child to worry that our car would be repossessed or home foreclosed on."
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