Beware of New Scams Warns the Texas Foreclosure Prevention Task Force

Beware of New Scams Warns the Texas Foreclosure Prevention Task Force



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AUSTIN, Texas, Feb. 13, 2012 /PRNewswire-HISPANIC PR WIRE/ — With recent headlines touting new initiatives to help homeowners impacted by foreclosure, consumers might find themselves faced with a new twist to loan or foreclosure rescue scams. The members of the Texas Foreclosure Prevention Task Force want to remind consumers to be cautious of potential scams.

“It’s getting harder to identify the good guys from the bad guys,” says David Long, President of the Texas State Affordable Housing Corporation and Co-Chair of the Texas Foreclosure Prevention Task Force. “Up to this point we have told homeowners to be wary of any foreclosure rescue offers not directly initiated by them. However homeowners eligible for an independent foreclosure review may be contacted directly by their mortgage servicer. We worry that scam artists will see this as an opportunity and try to take advantage of struggling homeowners.”

In addition, homeowners may be contacted directly if they are eligible for relief under the national mortgage settlement announced on February 9th.

Because there is no cost to participate in the independent foreclosure review or national mortgage settlement process, consumers should be wary of any organization that demands a fee in return for services associated with these two initiatives. Consumers who believe they have encountered a scam are encouraged to contact the Texas Office of the Attorney General at 1-800-621-0508 or the national HOPE Hotline at 1-888-995-HOPE.

Homeowners should know they always have the option to contact a HUD-approved foreclosure prevention counselor if they are facing foreclosure or have any questions about these two initiatives.

— For additional information about the review process, homeowners are encouraged to visit http://www.IndependentForeclosureReview.com.

— Homeowners looking for more information about the national mortgage settlement and its eligibility requirements should visit http://www.nationalmortgagesettlement.com.

— To find a foreclosure counselor in your area, visit http://www.findaforeclosurecounselor.org.

About the Texas Foreclosure Prevention Task Force

The Texas Foreclosure Prevention Task Force (TFPTF) is a statewide initiative working to inform at-risk borrowers of the options available to them, link them with local nonprofit housing agencies, and increase the capacity of these counseling organizations to provide guidance to homeowners. Originally facilitated by NeighborWorks® America in 2007, the TFPTF is currently comprised of representatives from over 90 organizations including state, local, and federal government organizations, the financial industry, the nonprofit sector, and other industry stakeholders working together toward a common goal–averting home mortgage foreclosures and the impact of foreclosure on Texas families.

Contact: JoAnn DePenning, +1-512-295-7975

SOURCE Texas Foreclosure Prevention Task Force

Beware of New Scams Warns the Texas Foreclosure Prevention Task Force