Foreclosure rescue scammers now have a new front to worry about: a coordinated operation by state and federal officials to shut down those who prey on foreclosure victims.
“The message is very simple: If you prey on vulnerable homeowners with fraudulent mortgage schemes, we’ll find you and we will punish you,” [U.S. Attorney General Eric] Holder said.
Scammers disguised as government programs
Other federal programs have given scammers an ironic opportunity to prey upon homeowners: they disguise themselves as government programs, using official-looking logos and bureaucratic-sounding names.
It’s all too easy to fall prey to the slick packaging, but HUD Secretary Shaun Donovan says there’s one easy way to tell who’s who: government programs are free.
See related: “The biggest real estate scam of the year is definitely this loan modification entity scam.”
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