LADA Consumer Alert - Foreclosure Rescue Scams

LADA Consumer Alert Los Angeles County

Foreclosure Rescue Scams

Steve Cooley, District Attorney
County of Los Angeles

District Attorney Steve Cooley warns Los Angeles County homeowners to be on the alert for foreclosure rescue scams. Many consumers are faced with a mortgage they can no longer afford and are facing foreclosure. Unscrupulous opportunists are profiting from this crisis. They promise quick results for a fee but actually provide nothing.

Beware of promises involving the payment of substantial amounts of money or the deeding of your home to someone as a way to solve your financial problems.

In reality, these predators may steal your money, your home and your hope.

Help yourself. Call your lender directly to negotiate a loan modification. For foreclosure assistance, seek help from a housing counselor approved by the U.S. Department of Housing and Urban Development (HUD) by calling 1-888-995-HOPE (4673).

For more information or to make a complaint, contact the Los Angeles County Department of Consumer Affairs Real Estate Fraud and Information Program at 1-800- 973-3370.

If you believe you are a victim of a foreclosure scam, call your local law enforcement agency.

To learn more about foreclosure fraud, go to the Los Angeles County District Attorney’s website at:http://da.lacounty.gov/cpd/foreclosure.htm.

To watch a video public service announcement about foreclosure fraud, click here.

October 5, 2009

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