Fort Lauderdale, FL (PRWEB) December 12, 2011
On December 1, 2011 a new task force was developed to combat scams tageting homeowners looking for to apply for the Residence Reasonably priced Modification System (HAMP). The activity force is a combined effort of the Particular Inspector Basic for the Troubled Asset Relief System (SIGTARP), the Customer Financial Protection Bureau (CFPB), and the U.S. Department of the Treasury. Their mission is to investigate and shut down these scams while offering educational programs. A New Horizon Credit Counseling Solutions is a nonprofit debt consolidation organization that has been assisting buyers since 1978.

The aim of our customer fraud alert is to empower property owners with the expertise of how to recognize and steer clear of these scams These scams prey upon the most vulnerable property owners as they desperately hold out hope of saving their residences, said Christy Romero, Deputy Special Inspector General for SIGTARP.

Treasury is totally committed to functioning with SIGTARP and the CFPB to shut down mortgage scams that falsely represent themselves as government applications, said Treasury Assistant Secretary for Monetary Stability Tim Massad. This new initiative builds on the perform we have completed with SIGTARP to date and other collaborative efforts throughout the federal government to educate property owners about scams so they can shield themselves and their houses.

Stephen Marcus, President of A New Horizon Credit Counseling mentioned, The consumer should be able recognize organizations charging a fee for false promises of lowering the homeowners mortgage debt or payments. A New Horizon routinely gives credit counseling and helps consumers manage their debt so that it can be totally paid off. They advise that if you are thinking about modifying your mortgage you can apply for free to the federal House Reasonably priced Modification Program (HAMP) on your own.

Marcus added, The only party that can grant a loan modification is your mortgage servicer, so dont rely upon promises of third parties, they can’t guarantee or pre-approve outcomes, and never spend an advance fee. In most instances an advance charge is illegal.

Lastly the Treasury cautions that paying a third party to help with your HAMP application does not increase your likelihood of getting a mortgage modification.

For a lot more info about A New Horizon Credit Counseling programs, contact 1-800-556-1548. They can also be located on the internet at http://www.anewhorizon.org, or reached through e-mail at slieberman@anewhorizon.org

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