Save the Dream Ohio : OH Mortgage Help Workshop

Topic 5: Scams, Scams, Scams
Click here to download the complete Ohio Mortgage Help Workbook

  • Don't be a Victim! How Scams Work
  • If you are struggling to make your mortgage payments, you may find yourself the target of con artists and scammers looking to make a quick buck off your desire to avoid foreclosure.

    Foreclosure "rescue" scammers promise to save homeowners from foreclosure, but instead convince homeowners do things that not in their best interest. These fraudsters take homeowners’ money, ruin their credit, and wipe out their home equity. Moreover, money spent paying these scammers for foreclosure prevention help could have been used to help make mortgage payments.

  • Here are a few typical sales pitches to be wary of:
    • "Stop Foreclosure Now!"
    • "We guarantee to stop your foreclosure."
    • "Keep Your Home. We know your home is scheduled to be sold. No Problem!"
    • "We have special relationships within many banks that can speed up case approvals."
    • "We Can Save Your Home. Guaranteed. Free Consultation"
    • "We stop foreclosures everyday. Our team of professionals can stop yours this week!"
  • Don't be a victim of a foreclosure "rescue" scam! Learn to spot common scams and where to go for legitimate help.
  • Click here to access printable publication on avoiding rescue scams.
Learn to Spot Red Flags
Beware of businesses that:
  • Guarantee to save your home, no matter your circumstances;
  • Insist you do not contact your lender, lawyer, or housing counselor;
  • Collect a fee before providing you services;
  • Accept payment only by cashier's check or wire transfer;
  • Encourage you to lease your home and buy it back over time;
  • Want you to make your mortgage payments to them, not your servicer;
  • Ask you to transfer your property deed or title to them;
  • Offer to fill out your paperwork for you; or
  • Pressure you to sign paperwork you have not read thoroughly or don't understand.

New scams are always developing. If you think an offer sounds too good to be true or if you are asked to pay a fee for foreclosure prevention services, call the Ohio Attorney General’s Help Center at 800-282-0515 for assistance. If you spot a scam, you may also report it online or file a complaint at www.speakoutohio.gov.

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  • Questions you should ask anyone who offers to assist you with your foreclosure:
  • What is the anticipated timeline to complete a work-out?
  • Will the foreclosure sale be postponed while your servicer reviews the work-out option?
  • What are your obligations under the work-out arrangement: due dates, amounts due, how long your servicer will postpone collection of payments, if applicable, and when such deferred payments must be paid back?

Read Protect Yourself from Foreclosure "Rescue" Scams to learn more Common Scams