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04/01/10

Prevent Loan Scams Website to Help Track Loan Modification Fraud

The Herald Tribune recently announced the debut of the www.preventloanscams.org website. Highlighting the unique resources found on the website such as individual state resource pages and the national complaint database, the Herald displays the depth and importance of the project. The Loan Modification Scam Prevention Network is focusing many of its resources and efforts in the state of Florida due to the impact on homeowners statewide.

Oftentimes distressed homeowners are not aware of the resources available to them and how to access them. The ease and practicality of the website allows for the homeowners to navigate the page for educational, legal and additional foreclosure assistance resources.  "Homeowners at risk of foreclosure can be easy prey for home loan-modification scammers," said John Trasvina, assistant secretary for fair housing and equal opportunity at the U.S. Department of Housing and Urban Development.

Preventloanscams.org aims to help close the information gap and link homeowner's complaints to law enforcement officials. Serving as a "single destination to report alleged scammers," partners such as the Federal Trade Commission (FTC), several state Attorney Generals and the Federal Bureau of Investigation (FBI) gain access to complaint information for homeowners from across the country. The LMPSN hopes to help 50,000 homeowners who have fallen prey to these unscrupulous loan modification scammers.

For more information please read the Herald Tribunes article, "New web site aims to track fraud in loan modifications"