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Beware of foreclosure rescue scams. While not all companies that approach you to help you save your home are trying to take advantage of you, you need to be cautious if someone offers help that sounds too good to be true.
Foreclosure scam artists take advantage of people who are facing foreclosure. After reading the lender published foreclosure notice, scam artists may contact the homeowner in person, by mail, over the telephone, or by e-mail. They may advertise their services on web sites or publications. They often refer to themselves with titles that sound official, such as “foreclosure consultant” or “mortgage consultant,” and market themselves as a “foreclosure service” or “foreclosure rescue agency.”
Do not sign anything until you have contacted a HUD-approved housing counselor or your lender and asked them about the offer before making a commitment. A reputable counselor will not:
- Promise to save your credit or stop the foreclosure process.
- Request a fee in exchange for housing counseling services or modification of a delinquent loan.
- Tell you they can “save” your home if you sign or transfer over the deed to their house.
- Tell you to make your mortgage payments to someone other than your lender.
If you receive a recorded phone message from someone claiming to be or telling you to call “Maine Housing Authority” to help you refinance your mortgage, it may be a scam. These calls are not from the state agency, Maine State Housing Authority (MaineHousing). MaineHousing does not make automated calls offering foreclosure assistance.
The recorded call may tell you to call the “Maine Housing Authority” for help, and provides an 800 number similar to but not the same as a toll free Maine State Housing Authority (MaineHousing) number. These calls are not from MaineHousing, the state agency.
Do not be fooled by your caller ID. Using computer software in a process called “Vishing”, scam artists can make it appear the call is coming from a legitimate organization or is going to a legitimate organization, even when it is not.
If you receive such a call do not give out any personal information.
If you have paid money to a company for financial assistance and are worried it’s a scam, contact the Office of the Maine Attorney General at 1-800-436-2131 or 626 8849 to file a complaint.
If you are having trouble making mortgage payments or are facing foreclosure, see the preventing foreclosure section of our website at http://www.mainehousing.org/EDUForeclosure.aspx.
Or contact a HUD approved housing counselor. A list of counselors can be found at http://www.mainehousing.org/EDUForeclosureCounselors.aspx.
For more information about scams that take your money, ruin your credit record, and wipe out any equity you have in your home, read this Consumer Advisory  .
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