(1888PressRelease)
May 08, 2009 - The National Council for Financial Literacy warns consumers about Foreclosure Rescue Scams. As foreclosure actions increase Nationwide, consumers are falling victim to foreclosure rescue company scams
Consumers are being sent letters that appear to be from their lender offering assistance in modifying their loan terms. The letters are cleverly drafted and are actually from bogus companies that will provide no assistance at all.
When victims call the phone number on the letter, an upfront “modification fee” is asked for as well as other identifying information. Fees can range from $500 to thousands of dollars.
The homeowner is told “not to call anyone else” especially the lender and let the “company” negotiate for you. Typically after the “company” receives their fee, they do nothing for the homeowner and the situation gets worse because the homeowner is instructed not to call the actual lender.
Homeowners then become victims of a foreclosure action that causes more problems.
FREE HELP is available from the following sources.
Homeowners that are have fallen behind or expect to have difficulty in making payments can get FREE HELP by calling 888-995-HOPE (4673)™ or http://www.hopenow.com/.
Another source for FREE HELP is your local HUD office by going to the following website http://www.hud.gov/. They will direct to you to an agency that will help you at NO CHARGE. There is NEVER ANY CHARGE for any legitimate program.
About The National Council for Financial Literacy
The mission of the National Council for Financial Education of Students and Consumers is:
to provide proactive, rather than reactive, financial education programs for students and consumers, through enhanced delivery strategies of financial content, with facilitators that are focused on topics that directly affect the ability of participants to function efficiently in basic daily financial situations.
The “Council” wishes to improve awareness of the pitfalls of poor money management and significantly improve the financial awareness in areas of daily financial stability, by concentrating on topics that concern basic daily financial survival. “Back to the Basics” of good money management.
More information about the National Council for Financial Literacy can be found at www.ConsumerFinancialFacts.org
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