Loan Modification Scams Target Desperate Homeowners

July 23, 2009

With more Americans losing their jobs, there’s no end in sight to foreclosures.  A growing number of homeowners are struggling to make their mortgage payments and that’s bringing scam artists out of the woodwork claiming they want to help.  Beware.   Click here to watch the report and read more.

An investigation by ABC News Investigative Correspondent Brian Ross showed consumers are being lured by promises of loan modifications, only to find they’ve been scammed. Watch the video above or click here to read the report by Brian Ross and producer Joe Rhee.  Foreclosure scams are an issue we’ve discussed before on Consumer Warning Network.  Check out our report “Foreclosure Scams Escalate as Piranhas Circle.”