Scam of the day – April 5, 2012 – Mortgage scam update

As I warned you in “scams of the day” on February 26, 2012 and March 26, 2012, mortgage settlement scams are becoming more and more prevalent and dangerous.  Recently the New York Attorney General warned consumers to be wary of phone solicitations from people purporting to be part of the major mortgage relief settlement with Bank of America, JP Morgan Chase, Wells Fargo, Citigroup and Ally Financial.  Sometimes the scammers lure the victims into providing personal information that can be used for identity theft purposes.  Other times they offer to assist with obtaining settlement funds or a loan modification for a fee.

TIP

Don’t trust anyone who calls you on the phone offering such help.  Don’t give your personal information to anyone on the phone whom you have not called and are not positively sure as to who they are.  No fees are charged by banks or HUD approved housing counseling agencies for settlement assistance.  The best place to go for accurate information is the website of the mortgage settlement, which is www.nationalforeclosuresettlement.com.