Mortgage fraud can be called a loan modification or advanced fee scheme. The fraudster may even pose as a licensed professional, promising to provide a lower interest rate or lower payments. The scam artist will offer to renegotiate the terms of your loan directly with your lender – and demand a large fee up front with no intent of delivering on promises.
Don’t take the bait. Don’t become their next victim.
- The person/company claims to act as an intermediary for the borrower
- The person/company charges upfront fees
- You’re directed to avoid contact with your mortgage service provider or lender
Tools and information to help you avoid scams, get prevention resources, and find help if you or someone you know has already fallen victim are available in a free Mortgage Fraud Online Toolkit