Freddie Mac recently did a study which revealed that one in four delinquent borrowers searches the Internet first, before contacting a bank or lender to find out how to avoid losing their home. These searches can send them right into the hands of a scammer with the sole mission of stealing any equity they have in that home. Although home values have fallen in many areas of the country, many of these financially strapped homeowners still have some equity remaining.
Brad German, public relations director for Freddie Mac, says "When you have an increasing population of delinquent and frightened borrowers, it's like a dinner bell for scam artists."
His company, one of the nation's largest investors in residential mortgages, has produced a two-minute video, posted on popular Internet site YouTube, hoping to help prevent troubled borrowers from losing their homes, or at least preserving their equity. Check it out at youtube.com/avoidfraud.
No comments:
Post a Comment