Campaign Looks To Increase Awareness Of Loan Mod Scams

Posted by Orb Staff on October 27, 2009 No Comments
Categories : Mortgage Servicing

A partnership of local, state and national government agencies, nonprofit organizations and financial institutions has launched a national public education campaign designed to help homeowners protect themselves against loan modification scams, find trusted help and report illegal activity to authorities.

The announcement, which was made in Los Angeles, was the first of several kickoff events scheduled to announce the Loan Modification Scam Alert campaign rollout in major cities across the country.

NeighborWorks America will coordinate the nationwide effort through its 235 community-based affiliates and other local, state and national partner organizations, including the Department of Housing and Urban Development, the Federal Trade Commission, the Treasury Department, Fannie Mae, Freddie Mac and the Lawyers' Committee for Civil Rights Under Law.

‘This campaign is based on the belief that knowledge is the best defense, which is why the campaign equips homeowners with the tools they need to minimize their risk and stop scammers in their tracks," says Eileen Fitzgerald, chief operating officer of NeighborWorks America.

Together, the partners aim to reach thousands of distressed homeowners in hundreds of communities at high risk for fraud activity. The campaign will target all audiences, but its resources are focused sharpest on those groups that have already seen high levels of scam activity, including seniors, Hispanics, African Americans and Asian Americans.Â

The new coalition has designated November ‘National Loan Modification Scam Awareness Month’ and will promote a variety of special events and initiatives throughout the month. In the coming weeks, the campaign will also travel to Miami later this week and Columbus, Ohio, in November.

SOURCE: NeighborWorks America

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