In the state of Hawaii where historically foreclosures have been lower than most other states Hawaii is showing an increase, state records show a jump of 21% during the first quarter of 2016 compared to the same quarter last year.
I would like to take a few minutes to express to any home owner in any state that is facing foreclosure or behind on their mortgage payments to be very cautious when being contacted by mortgage relief companies/scammers using deceptive practices to sell you the distressed homeowner their services.
These services are costly ranging from $1500 - $6000 and up!. Some typical signs of a rescue foreclosure scam is;
1. They require an UP Front Fee for either all of part of their fee.
2. They will guarantee to stop the foreclosure and/or get your loan modified or get the principal balance reduced.
3. They tell you to STOP making their monthly mortgage payments and/or start making the payment to them.
4. They tell you to STOP communicating with the mortgage lender.
5. They may even pressure you to sign over the deed to your home.
6. Some companies even claim to be government sponsored or have government loan modification programs.
Hawaii has FREE Certified Housing Counselors at; 808-587-3222 or you can go to;
www.FHIC.Hawaii.gov for more information.
For questions and a variety of legal help call Legal Aid Society of Hawaii 800-499-4302
In 2008 Hawaii enacted The Mortgage Rescue Fraud Protection Act, which can bring action against violators that can result in fines from $500 to $10,000. To file a complaint go to http://cca.hawaii.gov/consumer-complaints/
The link below is an information site by state, just click on your state to get local help and information.
I hope this article has been informative and will help you or someone you know. Please remember above all else that HELP is FREE. Also armed with a little know how and instructions from your mortgage lender YOU can do all that is needed to get your own home loan modified. Seek local legal help and/or counselling it FREE…
Thank you for visiting my blog, I welcome your questions and comments.
ACMC Loan Consultant
Certified Mortgage Coach