Prevent Loan Scams

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HUD Launches Anti-Scam Campaign

OurWeekly reports HUD's launch of it's anti-loan scam campaign, “Know It. Avoid It. Report It.” The program will begin in targeted cities Los Angeles, Chicago, and Miami. The Loan Modification Scam Prevention Network's Yolanda McGill traveled to California to help the launch. Yolanda noted that $9.5 million in losses to scammers have been reported to the network since its inception.

The new campaign aims to prevent homeowners' becoming scam victims, offer resources for victims to report fraud, and provide approved counselling to homeowners looking for refinancing or modifications.

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