Victim service providers are on the front lines in combatting mortgage fraud. Young people, seniors, first time home buyers – no one is immune. Mortgage fraud targets victims of all ages. The National Crime Prevention Council has a full complement of concrete resources to help you help victims of mortgage fraud.
If you are an attorney, housing counselor, or other victim service provider working to support victims of mortgage fraud, here are some steps to help them on the road to recovery:
- Help them explore eligibility to apply for a government-sponsored loan modification or refinancing program. The U.S. Department of Housing and Urban Development (HUD) has many low-cost resources.
- Verify that any third party the victim chooses to work with is part of a legitimate organization.
- Remind victims to avoid paying fees before receiving any services.
- All mortgage payments should be paid directly to the lender or mortgage service provider.
- Encourage victims to carefully read and understand all documents before signing.
They shouldn’t sign over the property deed without consulting a trusted attorney or professional. - Get all promises in writing.
NCPC has created a FREE online Mortgage Fraud Toolkit to help Victim Service Providers combat mortgage fraud. The kit includes:
• A comprehensive and valuable fact sheet: Mortgage Fraud Fact Sheet for Victim Service Providers and Attorneys.
• Free Podcasts filled with information to help you support victims of mortgage fraud.
• Free Resources Guide which includes counseling service providers and where to report fraud.
We encourage real estate professionals, attorneys, housing counselors, law enforcement officials, mortgage lenders, and other victim service providers to access the many free tools available in the Mortgage Fraud Toolkit.
Source: NCPC.org