{"id":300,"date":"2009-04-23T13:35:26","date_gmt":"2009-04-23T20:35:26","guid":{"rendered":"http:\/\/www.financegourmet.com\/blog\/news\/government-mortgage-help-programs-scams-and-deceptive-marketing-and-mailings\/"},"modified":"2009-04-23T13:35:26","modified_gmt":"2009-04-23T20:35:26","slug":"government-mortgage-help-programs-scams-and-deceptive-marketing-and-mailings","status":"publish","type":"post","link":"https:\/\/financegourmet.com\/blog\/news\/government-mortgage-help-programs-scams-and-deceptive-marketing-and-mailings\/","title":{"rendered":"Government Mortgage Help Programs Scams and Deceptive Marketing and Mailings"},"content":{"rendered":"

\"confusion\" It was with much fanfare last month that Congress and the Obama administration passed laws putting into effect government programs to help American homeowners with their mortgages.  Both The Emergency Economic Stabilization Act, and The American Recovery and Reinvestment Act<\/a> were front page news all over the country. A lot of this publicity was due to the fact that Americans have started to perceive the government as helping out Wall Street and big banks more than they are helping ordinary taxpayers and homeowners who did nothing wrong during the housing bubble and subsequent market collapse and banking collapse.<\/p>\n

However, the same publicity also made it easier for scammers and dishonest marketers to take advantage of people\u2019s hopes by pretending to have something to do with the government programs when, in fact, they are either outright scams to steal your money or steal your identity, or they are mortgage brokers or mortgage companies that have nothing to do with the government mortgage aid programs trying to insinuate that they are part of those programs.  Unfortunately, many people are falling victim to these con artists and their tricks.<\/p>\n

How To Protect Yourself From Scams, Thieves, and Con Artists Using Government Mortgage Aid Lies<\/h4>\n

First, understand the facts about how people take advantage of these government mortgage aid programs. There ARE NO EMAILS of any kind being sent to homeowners by any government agency or banking institution<\/strong> associated with the programs.  None, zero, zip, nadda.  Any email that you get of any kind, from anyone, no matter how official sounding or looking is a scam.  Delete it immediately.<\/p>\n

Second, there are no checks being issued to homeowners.  Some mailings include checks that ask you to call a toll-free number for some official sounding reason.  When you do, they will ask you to deposit the check, but wire some money to another account for some reason.  This is a scam.  The check will bounce and your wire transfer money will disappear.  NO CHECKS ARE BEING SENT TO HOMEOWNERS<\/strong> by the government or banks.  Any and all help you might be eligible for will come in the form of a refinanced loan or a load modification.  Either way, there is no check involved.<\/p>\n

Third, is junk mail designed to look like it has something to do with the government\u2019s mortgage aid programs, but carefully worded to actually just mislead you into thinking this without actually<\/em> saying it.  These come from banks and mortgage brokers and mortgage companies.  They are nothing more than junk mail hoping to get you to refinance with them, most likely at a higher interest rate and with higher closing costs than you could get elsewhere.  There is no proactive attempt of any kind going on to contact homeowners in this way.  Anything that is sent via 3rd class mail, or bulk mail of any kind is clearly not from the government or banks.  It is junk mail, throw it away (actually, shred it).  Even mail sent first class is most likely fake junk mail.<\/p>\n

Use these guidelines to see if the offer you have received MIGHT be legitimate.  You will still have to follow up with your mortgage company, but if any of these apply, don\u2019t even bother, what you have gotten is phony.<\/p>\n