NeighborWorks America Recognizes National Consumer Protection Week by Warning Homeowners Against Loan Modification Scams

In conjunction with National Consumer Protection Week (NCPW), March 7-13, NeighborWorks America and its growing coalition of national government agencies, nonprofit organizations and financial institutions are empowering homeowners to combat loan modification scams. The effort is an extension of the organization’s national Loan Modification Scam Alert campaign, designed to help homeowners protect themselves against loan modification scams, find trusted help and report illegal activity to authorities.

NeighborWorks America is an official partner of NCPW, a coordinated consumer education campaign that encourages individuals across the country to take full advantage of their consumer rights.

An estimated 4.5 million Americans are at risk of losing their homes to foreclosure. While many will seek relief in the form of loan modification services, too many will instead become victims of scams.

“Foreclosure rates in America are now at an all-time high and so is the need for help,” said Kenneth D. Wade, chief executive officer of NeighborWorks America. “This National Consumer Protection Week, NeighborWorks is urging community groups and businesses across the nation to join in the effort to educate homeowners about how they can guard against loan modification scams—a fast-spreading epidemic in need of immediate attention.”

Learn more, including the six red flags that indicate you may be dealing with a scammer.