Borrower Beware: Your Guide to Foreclosure Rescue Scams

When you are faced with a foreclosure, your information is made available to the public. This means that your personal information can also be found by a number of for-profit companies and attorneys looking to take advantage of you. You may begin receiving solicitations by phone, mailings and even personal visits by those who "want to help you". Though there are a variety of foreclosure rescue programs, there are several easy ways to tell if you are being approached by a scam-artist.

Warning Signs of Scams

  • They charge a fee for their services
  • They state that you have been "pre-selected"
  • They make promises or provide guarantees
  • They claim unrealistic success rates saying "no one else can help you"
  • They tell you "don't contact your lender"
  • They encourage you to file bankruptcy or that they can refinance your loan

What's most important to remember is that "if it sounds too good to be true", it probably is. Contact Neighborhood Housing Partnership of Greater Springfield, a trusted non-profit organization serving The Miami Valley for over 10 years. Don't ever pay someone when FREE help is available by qualified, foreclosure prevention professionals. Call today for free, fair and unbiased support and allow us to help you through this difficult time.

Tips to Avoid Scams

  • Don't pay when FREE help is available
  • Only pay your lender or servicer
  • Don't respond to unsolicited mailings, calls or visitors
  • Read the fine print
  • Get all promises in writing
  • Understand everything you are asked to sign
  • Never sign over the deed to your home

Reporting a Scam

  • Save all paperwork and/or contact information that you receive
  • Contact Neighborhood Housing Partnership at 937.322.4623
  • Contact the Save the Dream Ohio hotline at 888.404.4674
  • Contact the Better Business Bureau at www.bbb.org
  • Contact the Loan Scam Alert Campaign at www.LoanScamAlert.org

© 2017 NHP of Greater Springfield