New Mortgage Modification Fraud Alert
I saw a new fraudulent scheme show up in one of my cases, and this one has the potential to cost you a lot of money.
I have a current client who is pursuing a mortgage modification. I will not mention which mortgage company because they are a major player and I do not believe they are at the root of the problem.
My client got a letter from that mortgage company saying their modification had been agreed upon and that they needed to wire $3300 via Western Union to a payment center that she never had sent money to before. Furthermore, it required the money to be wired within five days or the modification would be lost.
This is an elaborate scam that most likely has its start on the mortgage company’s floor. At the very least, someone sold a list of people who applied for mortgage modifications to an unscrupulous person/company. It might also have its roots in the office of one of those so-called “mortgage modification companies” or “lawyer-based debt relief companies.” I’m not sure where it came from, but it had to come from a place where you can get a list of people who are pursuing mortgage modification, and there really are only two places like that.
Never send money to your mortgage company based on a letter like this without calling them first.
I’m not saying it’s impossible for your mortgage company to send you a letter that asks you for something this unreasonable during a mortgage modification, I’m saying its unlikely.
This is a scheme that is out there, and it is dangerous. When you send money via Western Union to the wrong people, you are not going to get it back.
When in doubt, call your lawyer, and then your bank, or if I’m your attorney, I will call your bank personally.
If you have gotten one of these letters, or you are considering mortgage modification and you are not sure what your options are, please contact me at jim@padebt911.com or call the office at 484-661-2894 to set up a free, no obligation consultation.
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