Tuesday, October 26, 2010

NeighborWorks Marks First Anniversary of the Loan Scam Alert Campaign

As NeighborWorks America marks the first anniversary of the launch of the Loan Modification Scam Alert campaign, this Halloween season NeighborWorks would also like to remind homeowners to beware of the “tricks” that loan modification scam artists are using to fleece homeowners in danger of foreclosure out of cash, equity, and even the deeds to their homes.

The Loan Modification Scam Alert campaign was launched October 26, 2009 at the City Hall in Los Angeles, the area with the largest number of foreclosures in America. Since then several organizations have mobilized people around the country to educate homeowners about loan scams and how to report them. So far, over 59 million people have been exposed to the signs of a loan modification scam and over 6,000 courageous people have reported scams to authorities. Now, close to 30 national and local organizations have received grants to educate homeowners in communities that have been hardest hit with foreclosures and scams.

What can you do right now to help?

Remember to share this information with your co-workers, friends and family. They may desperately need the information but they may be too embarrassed to ask you. Visit http://www.LoanScamAlert.org to learn more.