Crooks are taking advantage of the difficult
economy, including tighter credit and higher unemployment, to trick people into accepting fraudulent
and deceptive offers that seem beneficial on the surface but actually could cost a lot of money or
result in identity theft.
The economy may be slow, but for thieves prowling
for victims, business is always brisk.
Here are some common schemes being reported,
followed by tips for protecting yourself.
Mortgage rescue
schemes:
Con artists are preying on hard-pressed homeowners in the current depressed
housing market. David M. Nelson, a fraud examiner in the Financial Crimes
Section, said that companies posing as foreclosure specialists promise
miracles, such as falsely claiming they can save a home from foreclosure
by lowering the loan balance, interest rate and monthly payments, and
all for a large upfront fee.
Instead, distressed
homeowners should contact their mortgage loan servicer to request a
modification of their loan at no cost.
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