How to Avoid Arizona Mortgage Relief Scams
According to Interthinx Mortgage Fraud Report from Q4 2012, Arizona is one of the top 5 states for mortgage fraud. Arizona distressed homeowners are being scammed everyday as they try to work themselves out a tough financial situation. And these scammers can seem like a legitimate company trying to help you. So how can you avoid being scammed and what types of scams should you look for?
The number 1 way to avoid being scammed is to never pay any money upfront. This mortgage relief scam of charging upfront money and then not performing the promised services has been very popular for scammers. So much so that the FTC has established a Rule to protect distressed homeowners looking for options. The Mortgage Assistance Relief Services Rule makes it illegal for companies to collect any fees upfront. In order for a company to collect fees the homeowner must have received an offer of relief from his or her lender and accepted it.
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