Washington, D.C. (PRWEB) January 13, 2010
At a time when many Americans are contemplating new resolutions and life adjustments, staying financially vigilant need to stay a priorityespecially for homeowners. For the duration of 2010, an estimated four million households are expected to face the danger of foreclosure. Millions of homeowners will attempt to decrease their mortgage payments with a loan modification.

The national Loan Modification Scam Alert campaign has place with each other 10 tips to aid homeowners searching for foreclosure prevention assistance this year:

1. Make contact with your lender initial as soon as you get concerned about paying your mortgage.

2. Decide your possibilities by speaking to your lender’s loss mitigation division.

three. Be patient but persistent with your lender, since obtaining a loan modification requires time.

4. Contact the Homeowner’s HOPE Hotline at 1-888-995-HOPE. Trained counselors are available 24 hours a day to supply assistance in several languages.

5. Connect with a neighborhood HUD-authorized counseling agency for cost-free by calling 1-888-995-HOPE or visiting http://www.LoanScamAlert.org.

6. Beware of loan modification scams. Some businesses and people are out to take advantage of home owners searching for loan modifications.

7. Stay away from anybody who asks for a charge prior to delivering any loan modification service, like firms, individuals and even some lawyers.

8. Keep away from anyone who guarantees to get your loan modified or quit a foreclosure, since no one has the power to make this promise.

9. Keep away from firms that tell you to stop paying your mortgage and to pay them rather. This is a positive sign of a loan modification scam.

10. Report loan modification or foreclosure scams at any time by visiting http://www.LoanScamAlert.org or calling 1-888-995-HOPE (4673).

About the Loan Modification Scam Alert Campaign
Loan modification scams are proliferating at a rapid pacecosting unsuspecting homeowners thousands of dollars and often their homes. To aid combat this problem, Congress asked NeighborWorks America