Help With Loan Modification Scams And Foreclosure Mediation

Help With Loan Modification Scams And Foreclosure Mediation

With mortgage loan modifications in high demand, scammers are preying on homeowners with deceptive and fraudulent practices. The following are signs you may be the potential victim of a Loan Modification Scam:

1. You are asked to pay large, up-front fees for mortgage loan modification help

2. Mortgage loan modification help is offered by a "homeowner consultant" or "financial counselor" and not a DOBI-licensed "debt adjuster"

3. You are told not to make your mortgage payments

4. You are told not to contact your mortgage lender or provider because the person or company offering you assistance will handle all the details; and

5. You are told to make future payments to a new person or firm without informing your current mortgage lender or provider


Help is available with loan modificantion scams and foreclosure mediation...


To report a mortgage fraud, you can contact:

  • NJ Division of Consumer Affairs (DCA)
    800-242-5846 (within NJ) or 973-504-6200
    www.njconsumeraffairs.gov
  • NJ Department of Banking and Insurance (DOBI)
    800-466-7467
    www.nj.gov/dobi


For help with foreclosure mediation, you can contact:

  • NJ Judiciary Foreclosure Mediation Program
    888-989-5277
    www.njforeclosuremediation.org
  • NJ Department of Banking and Insurance (DOBI)
    800-466-7467
    www.nj.gov/dobi
  • NJ Housing and Mortgage
    Finance Agency (HMFA)
    800-466-7467
    www.nj.gov/hmfa