FraudJournal Blog

May 10, 2012

A New Twist to Foreclosure Rescue Fraud

Dear Fellow Fraud Fighters;

The FBI and FTC need our help. Please take some time to become educated about this new scam and get the word out to your colleagues and community to stop this new twist on “foreclosure rescue fraud” because it is a serious threat to distressed homeowners and it is called Forensic Mortgage Loan Audits. Many of you may have heard of this or even come across this, but it has started to increase at an alarming rate.

This fraud is about selling “hope” and they are relying on the buzz word “forensic” to sound credible, necessary and effective and legal. They call themselves:

  • Forensic loan auditors
  • Mortgage loan auditors
  • Foreclosure prevention auditors
  • Forensic attorneys

Yes, forensic attorneys. By using public information, these so-called “rescue” professionals send out mailings to exploit distressed homeowners by lulling them into the false sense that a forensic audit will indicate if their loan was not in compliance, and by not meeting the state and federal mortgage lending laws they can help the homeowner:

  • Avoid foreclosure
  • Expedite the loan modification process
  • Reduce the loan principal
  • Cancel the loan
  • Lease the home to be able to buy it back over time
  • Make mortgage payments to them and they will work with the lender
  • Transfer the property, deed or title to them
  • Offer to purchase home at a price inappropriate for housing market
  • Pressure to sign documents without proper time to review or read thoroughly

Although this scam is preying on the financially strapped homeowner, the elderly and military veterans and their families are being targeted also. As you all know, a mortgage cannot be eliminated by a report, lenders are not required to modify a loan because of this report, the lender is not required to modify a loan and a report will not force a lender to negotiate the terms of a loan. There is no report that is guaranteed way to stop a foreclosure.

Please contact the FTC or FBI with any concerns or questions.

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5 Comments »

  1. […] Although this scam is preying on the financially strapped homeowner, the elderly and military veterans and their families are being targeted also. As you all know, a mortgage cannot be eliminated by a report, lenders are not required to modify a loan because of this report, the lender is not required to modify a loan and a report will not force a lender to negotiate the terms of a loan. There is no report that is guaranteed way to stop a foreclosure.Source: wordpress.com […]

    Pingback by A New Twist to Foreclosure Rescue Fraud — May 10, 2012 @ 12:35 AM | Reply

  2. Thanks for ones marvelous posting! I genuinely enjoyed reading it, you will be a great author.

    I will make certain to bookmark your blog and will come
    back from now on. I want to encourage you to continue your great posts, have
    a nice afternoon!

    Comment by Minecraft-Server — May 10, 2012 @ 5:42 AM | Reply

  3. Mortgage Fraud Examiners exposed this problem of bogus forensic loan audits over three years ago in a press release: “Beware of the Latest Foreclosure Rescue Scam—“Forensic Loan Audits.” http://www.prurgent.com/2011-04-21/pressrelease165977.htm

    Comment by amicusman — May 10, 2012 @ 11:24 AM | Reply

    • Thank you mortgagefraudexaminers.com for sharing with everyone that this is an old problem that has reared its ugly head and thanks for the link to the press release. This has been in the news before but the scam is on the rise again and the Feds are asking the fraud community to contact them if we need their help or to report specific individuals or groups.

      Comment by fraudjournal — May 15, 2012 @ 5:14 PM | Reply

  4. You had greatly entailed so much information regarding the basic of fraud loans and thus implies a relevant ideas on how to handle such situation. It make sense as people were into this kind of anomaly this day. Finding a trusted loan auditor is a must to have.

    Comment by Devine — July 27, 2012 @ 12:09 AM | Reply


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