Know It. Avoid It. Report It.
Know It. Avoid It. Report It. This is the new mantra in South Florida as a new HUD consumer awareness anti-scam campaign launched in Miami on April 20th reaches the public. The campaign’s goal is to inform homeowners who are facing foreclosure, falling behind on their mortgage payments, or simply looking for a lower home loan rate or monthly payment not to fall victim to loan modification scammers and to report suspicious activity.
“You can’t go around Miami without seeing all these promises to “help” and the result is that too many people are being taken advantage of,” said Ed Jennings Jr. HUD Southeast Regional Administrator. “Florida and Georgia are at the center of the storm and we are looking at all possible tools to deal with this situation. With millions of homeowners in foreclosure or at risk of losing their homes as they fall behind on mortgage payments, and eight million Americans expected to face foreclosure now through 2012, the timing of this campaign could not be more prudent. When you know better, you do better.”
The awareness campaign wants to solicit the support of homeowners in shutting down scammers who regularly target the elderly, Hispanics, and African Americans. Scam artist tactics lure homeowners into misleading agreements. Their tactics include giving the false impression that they are affiliated with the government, charging illegal up-front fees, and executing fraudulent lease-back, financing, and repurchase schemes. Click here to recognize and report a loan scam.
Read the press release for detailed information of the launch event.