Foreclosure Scams – Federal Trade Commission Issues Warnings

In this current economic climate the possibility of losing your home to foreclosure can be terrifying. Currently there are con artists using mortgage rescue schemes to take advantage of home owners in distress. . The Federal Trade Commission warns that many of these  foreclosure assistance firms claim they can help you save your home and sometimes offer a money-back guarantee.

If you are having difficulties paying your mortgage contact your bank immediately and inquire about the Making Homes Affordable program. Many major banks such as Countrywide (Bank of America) and Wells Fargo are participating and can help you modify your home loan so you can avoid foreclosure.