Tips to Spot Scams

Read these tips to help spot scams:

• Read and understand any documents that you sign — take time to read any and all documents that you are asked to sign. Scammers may ask you to sign numerous documents quickly without review and in the pile of documents; you may unassumingly transfer the title to your home to the scammer. 
• Stay away from businesses that aggressively advertise — be wary of businesses that aggressively seek you out for a loan modification.
• Be suspicious of rent-to-buy or lease-option programs — do not transfer the title to your house to a loan modification company, even if the company tells you that you can remain in the home as a renter and have the option to buy back your home later. 
• Research the company or attorney from whom you are seeking assistance. You can check the reputation of a business or law firm through the Better Business Bureau or Nevada State Bar. 
• Do not pay fees until after the promised services have been provided. Recent regulations adopted by the Federal Trade Commission say loan modification companies are not permitted to charge upfront fees prior to performing the contracted services.
• Never let anyone tell you to stop paying your mortgage just to increase the chances of a successful loan modification.
• Never pay your mortgage payments to anyone other than your lender or loan servicer.
• Never sell or transfer title to your home to anyone promising to rescue you from your indebtedness or foreclosure.
• Never ignore letters you receive in the mail from your lender or loan servicer.
• Never let anyone tell you that you may not contact or speak to your lender or loan servicer directly.