Philadelphia hotline targets mortgage fraud
Tuesday, July 13th, 2010
People are still losing their homes to scammers. The city of Philadelphia is partnering with a non-profit to keep homeowners from being defrauded.
"Don't sign, call the hotline,"
Mayor Michael Nutter issued the challenge to people who are thinking about refinancing or trying to use a service to avoid foreclosure. Edward Harper is a senior citizen with about a hundred thousand dollars in equity in his home who was almost scammed out of his property after signing a deal with a company to prevent foreclosure.
"I was told that my mortgage would be paying $1,200 a month at the time I was only paying $500 a month, this was double plus."
Those facing foreclosure can call a new hotline 215-334-4663 for help navigating through the process to prevent foreclosure. Callers can be referred to free lawyers if necessary.
Philadelphia is rolling out the hotline in coordination with the non-profit Neighborhood Works America. The group is helping set up similar hotlines around the country.
Mortgage scams are always there to target innocent people .Since last few months it has gone wild
and swindle many . Even FBI had gripped many
scammers .
THanks for info