Homeowners beware, don’t get scammed with a third party mortgage restructure! Unfortunately this is a true story. I recently met with some friends and happened to find out they were in pre-foreclosure. In another couple of weeks to a month they would be losing their home. They were embarrassed to call me and tell me they were losing their home because they were scammed by someone that sent them an official looking letter to lower their interest rate, even after I had warned them about letters like this.
After they had talked to the person who sent them the letter (aka the scammer), they were told that their interest could be lowered to 2%, therefore reducing their monthly payment. This couple was desperate to lower their monthly payments because they recently had a death in the family and were trying to help their parents with their bills too. Instead of sending in their mortgage payment to the lender as usual, they sent the person whom they just met (the scammer) their next two monthly payments, which he had promised to send to their lender and arrange for their monthly payment to be lowered.
Well it doesn't take a rocket scientist to guess what happened next. The money never reached the lender and this guy is nowhere to be found. At this point, I have guided them back to their lender and they are trying to work out a compromise with them. So the moral of the story is, please do not believe everyone you hear out there with an easy solution to lower your mortgage payments.
If it sounds too good to be true, it probably is in most cases. I am not saying it is always the case; but please be aware of who you are talking to and who you give or send money too. The same thing goes to signing any type of Real Estate or Mortgage related paperwork. If you have any questions, please do not hesitate to contact me!
Amy Ruiz
Keller Williams Realty
(619) 328-6648
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