Feds Say Mortgage Fraud Up 26%
The federal government has released information saying that cases of fraud that have been reported to various law enforcement offices shows an increase of 26 percent. This alarms them for as the government prepares to release the bailout money that is part of the $700 billion bailout funds, their aim is to get the money to those who need it and out of the hands of these crooks. They have mobilized information campaigns on all forms of media from large print (posters and billboards), newspaper and even paid for movie-time showing of ads that aims to make people aware of such activities in hopes of steering them away from fraud. People are also given the numbers to call just in case they do get into such scams who promise to give them cash till their bailout funds come enough to make their mortgage payments.
Most people settle for mortgage rescue plans wherein a company opts to pay for your mortgage then you pay extra when your cash gets in, this is mostly a scam but those who held off foreclosure aren’t complaining. But the alarming thing about these firms is that they simply vanish right after the payment is made without any contact or whatsoever documentation of what has transpired. Be wary of offers that promise something totally unheard of, if it sounds too good to be true, it probably is.