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03/10/10

New Scam Targets Homeowners in Arizona

According to a story by Jodie Heisner from ABC 15 in Phoenix, Arizona Attorney General, Terry Goddard, is expecting a new scam to impact homeowners in Arizona. The "forensic loan audit scam," a new tactic being employed by scammers, involves charging a high upfront fee to perform an "audit" that supposedly gives the homeowner leverage in their modification process, but really just takes money from the homeowner that they can't afford to lose. 

In a forensic loan audit, the scammer promises to check a homeowner's mortgage for state and federal compliance. Once the advance fee is paid, it is highly unlikely that the homeowner will see scammer again.  

This trend, popularized in California, is emerging in Arizona. In anticipation, Goddard fully supports Senate Bill 1130 which will eliminate all upfront fees to forensic loan audit service providers in the state of Arizona.

For more information, read the ABC15 report "New scam targets homeowners in trouble with their loans"