Are you a homeowner? Are you getting mail,faxes, calls to your home claiming your lender will accept less then what they are owed?
This morning I was speaking with a mastermind of professionals and attorney's that specialize in loan modifications one of the biggest scam they are seeing is homeowners getting "official" looking letters that look like it came from their lenders telling the homeowner they are accepting reduce balance on their loan as full payment.
For example.."Mr.and Mrs. Homeowners get's letter from there lender (GMAC) letter states that they will accept $9,500 as full payment for there 2nd loan of $97,000, and the offer is good for 15 days if they wire the money to the "bank".
Be very, very, very careful!
If you get this letter, you need to immediately pull out your regular mortgage statement from that bank and call the number on that statement for your lender. Ask them if they sent that letter, email, fax.
So if you get any letter call your lender, call your attorney, call my office, I will be willing to help you anyway possible.
Carlos Samaniego, CMPS
Credit and Loan Modification Expert
P.S. I have been talking about the issues of loan modification and the fraudulent companies out there, here is recent article in LA times talking about those issues right here in San Bernardino County.