Foreclosure Review Scam Warning

We could see these scam artists from a mile away. We reported a few weeks ago about the independent foreclosure reviews as part of the mandate to major mortgage servicers. These reviews come from the Office of the Comptroller of the Currency (OCC) and the Federal Reserve.

Not long after, we learned about several independent review scams.

These independent foreclosure reviews started in November. Eligible borrowers should have received a letter by the end of 2011 detailing the process.

Unfortunately, scam artists have also contacted consumers and offered to conduct an “independent foreclosure home loan review” or a “securitization review” for a fee. Like the loan mod scams of a few years ago, beware of anyone who wants payment to assist with an independent foreclosure review or any other foreclosure prevention program.

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Filed under Banks, Loan Modifications, Mortgages

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