With the number of households behind on their mortgage payments still higher than before the housing crisis, homeowners remain vulnerable to loan modification scams. They desperately want help. Unfortunately, many pay for so-called services that provide no help at all. Loan modification scammers continue to take advantage of distressed homeowners using unethical and sometimes illegal tactics, causing homeowners to lose money and often times their homes.
To combat the issue, Congress asked NeighborWorks America to launch the Loan Modification Scam Alert Campaign to educate homeowners. Launched in October 2009, the campaign empowers homeowners to protect themselves against loan modification scams, find trusted and often free assistance and report illegal activity to authorities.
NeighborWorks America is working with national, state and local partners and more than 240 community-based affiliates on the campaign. Together with our partners, we have alerted millions of homeowners in hundreds of at-risk communities through real-life scam stories; TV, radio and print advertising; online marketing; local transit and radio PSAs; earned media; fliers; postcards; door hangers; tip cards; posters; events; word of mouth; e-cards and social media activity.