NeighborWorks America Salutes Operation Stolen Dreams for Efforts to Stamp out Mortgage Fraud

NeighborWorks America salutes the efforts to stamp out mortgage fraud undertaken by Operation Stolen Dreams. As reported by the U.S. Department of Justice, the task force has gone after more than 1,200 criminal defendants who are responsible for more than $2.3 billion in losses, and made 485 arrests.

“We applaud Operation Stolen Dreams and all of the interagency partners for getting these mortgage fraud scam artists off our streets and away from the innocent people being victimized,” said Marietta Rodriguez, national director of homeownership programs and lending for NeighborWorks America. “The homeowners who are being ripped off by these scam artists are facing foreclosure and desperate to listen to anyone who claims to be able to help them. These scam artists use slick sales pitches and advertising to lure in homeowners, guarantee to give them loan modifications, charge for their services in advance and then leave homeowners facing foreclosure and without anywhere from several hundred to several thousand dollars.”

In October 2009, NeighborWorks America and a host of local, state, and national partners launched the Loan Scam Alert campaign to raise awareness of loan modification scams, inform consumers about the signs of a loan modification scam, and encourage consumers to report scams occurring in their communities.

“The more we continue to raise awareness of loan modification scams through public education campaigns like the Loan Scam Alert campaign and encourage homeowners who have been scammed to report being scammed, the more we can help Operation Stolen Dreams track down these criminals and prosecute them,” said Rodriguez.

For more information about the Loan Scam Alert campaign or to report being scammed, visit http://www.loanscamalert.org/.

National NeighborWorks Week is Your Chance to Get Involved in Your Community

By Omar Velarde-Wong
Project Manager, Communications and Marketing
NeighborWorks America

National NeighborWorks Week has been a core part of NeighborWorks America’s fabric for the past 27 years. But this year it has taken on special meaning for me. This is my first time managing it and it has been an absolute pleasure to witness first-hand the dedication of our member organizations to their communities. There are more than 230 organizations across the country but this particular program is the one that connects us on a single week and embodies the mission of the organization.

We have more than 300 volunteer events planned so far during NeighborWorks Week, June 5-12. About half of them will involve local NeighborWorks organizations spreading the word in their communities about loan modification scams. The proliferation of these scams is a huge problem in our neighborhoods, and we’re doing all we can to inform homeowners facing foreclosure how to avoid loan modification scams and report them to trusted authorities.

This year’s National NeighborWorks Week will be no different. We will be holding our traditional community building activities, including home repair and painting events, landscaping projects, and mural painting.

I’m looking forward to getting involved myself. I’ll be one of dozens of volunteers on Saturday, June 5, who will be landscaping the Willowbrook Condominium, a tenant purchase project developed by our local D.C. member organization, Manna, Inc. I also will be canvassing the Brookland neighborhood and inviting residents to a Loan Modification Scam Alert seminar later in the day.

I encourage you all to get involved in your community during this volunteer week and beyond. Find an event near you here. If you’ve already selected an event, please share your comments, pictures and videos with us! Contact me to find out where to send them in.

NeighborWorks Fights Mortgage Modification Scams with National Effort

NeighborWorks organizations around the U.S. are holding more than 150 events during national NeighborWorks Week (June 5-12, 2010) to inform tens of thousands of homeowners on how to avoid and report mortgage modification scams.

The events include hundreds of volunteers canvassing neighborhoods with tip-sheets and flyers, dozens of one-on-one and group workshops about reputable mortgage modification programs, and more.

“Many mortgage modification scams are sophisticated, slick and so well crafted that homeowners find it difficult to recognize them for the danger that they are,” said NeighborWorks America CEO Ken Wade. “More than 7,700 mortgage modification scams have been reported to the authorities since our campaign started in October, and we believe that the number of homeowners who have been victimized is significantly greater.”

In addition to mortgage modification scam prevention events nationwide, NeighborWorks organizations also are holding traditional community celebrations and hands-on community building activities, including home repair and painting events, landscaping projects, and mural painting. These efforts, and those of NeighborWorks Week events over the past 26 years, leave positive lasting legacies in participating communities all year round.

Find events on the National NeighborWorks Week website. More information is also in the NeighborWorks newsroom.