Are you receiving mortgage relief assistance from someone?  Are you being charged a monthly rental fee?  Know your rights as outlined by the FTC.
The possibility of losing your home to foreclosure can be terrifying. The reality that scam artists are preying on desperate homeowners is equally frightening. Many companies say they can get a change to your loan that will reduce your monthly mortgage payment or take other steps to save your home. Some claim that nearly all their customers get successful results and even offer a money-back guarantee. Others say they’re affiliated with the government or your lender and still others promise the help of attorneys or real estate experts.
Unfortunately, many companies use half-truths and even outright lies to sell their services. They promise relief, but don’t deliver. In fact, many of these companies leave their homeowner customers in worse financial shape.
The Federal Trade Commission (FTC), the nation’s consumer protection agency, has a Rule in place to protect homeowners. The Mortgage Assistance Relief Services (MARS) Rule makes it illegal for companies to collect any fees until a homeowner has actually received an offer of relief from his or her lender and accepted it. That means even if you agree to have a company help you, you don’t have to pay until it gets you the result you want.
If you’re struggling to make mortgage payments or facing foreclosure, the FTC wants you to know how to recognize a mortgage assistance relief scam and exercise your rights under the new Rule. And even if the foreclosure process has already begun, the FTC and its law enforcement partners want you to know that legitimate options are available to help save your home.
Read the full Mortgage Scams article »
http://www.consumer.ftc.gov/articles/0100-mortgage-relief-scams