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Avoiding foreclosure scams

Crooks hit desperate borrowers

By Ana Gonzalez Ribeiro / Bankrate.Com
Friday, July 3, 2009 - Added 253d 7h ago
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Homeowners who face foreclosure now have one more thing to worry about: “loan-modification” scams.

Many lenders legitimately offer interest-rate cuts or other mortgage modifications these days to consumers facing foreclosure, but crooks have also emerged to prey on desperate homeowners.

 
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