The Great Recession caused a lot of harm to home owners and the resulting mortgage crisis pushed many people into desperate circumstances regarding their home and attempts to save it through loan modification. Sometimes it's difficult to figure out whether a loan modification offer is truly legitimate, but usually there are some simple options for determining whether that offer is too good to be true. A loan modification scam might involve a wonderful foreclosure rescue offer that will save a person's house, and all that is required is a hefty up-front fee.
Any loan modification offer that starts out with a fee is likely a scam. These scams can become rather insidious because a home owner in danger of losing his house might actually go into foreclosure because he starts to make payments to the scammer instead of the bank. Unfortunately, such issues often don't result in a person being able to keep their home, and the scam can actually rob someone of the very roof over their head. If you've been the victim of loan modification fraud, visit ScamGuard.com to share your experience and to find out more about this type of scam.