What is mortgage rescue fraud?

Mortgage rescue fraud targets homeowners facing foreclosure by offering fake help. Scammers may promise to negotiate with your lender, modify your loan, or save your home from foreclosure in exchange for upfront fees. Some schemes involve fraudsters convincing you to sign over the deed to your home in exchange for allowing you to remain as a renter — you later discover you have lost all ownership rights. Others pose as government representatives offering modification programs. Legitimate foreclosure assistance is available for free through HUD-approved housing counselors (call 1-800-569-4287). Never pay upfront fees for foreclosure help and never sign documents you do not fully understand.