How to Avoid Foreclosure Rescue Scams

NeighborWorks Americaoffers these quick tips to avoid foreclosure rescue scams.

• Never use any ad, person, or company that approaches you and claims to be able to “stop foreclosure now” for a fee.
  
• Never release your financial information online or over the phone to a company you know nothing about.
  
• Never send your mortgage payment, or any payment, to a company other than your mortgage lender.
  
• Contact your local NeighborWorks organization or other HUD-approved nonprofit housing counseling agency for free foreclosure counseling. To find a local NeighborWorks organization near you that provides foreclosure counseling, visit http://www.nw.org/ or http://www.findaforeclosurecounselor.org/.
  
• If you prefer to speak to a counselor over the phone, call the Homeowner’s HOPE Hotline at 888-995-HOPE for free foreclosure prevention counseling by expert counselors at HUD-approved nonprofit counseling agencies. The hotline is open 24 hours a day, seven days a week, in English and in Spanish. Counseling is also available in 20 additional languages by request.
  
• Contact your mortgage lender. Contrary to what a foreclosure scammer will tell you, you should contact your lender the minute you have trouble making your monthly payment.

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