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How loan modification scams lead to identity theft

Knowing about home mortgage scams will save your house!
Knowing about home mortgage scams will save your house!
Photo by Justin Sullivan/Getty Images

If you recieved a letter, phone call or email from a company promising to reduce your mortgage payments by hundreds of dollars per month, the Federal Trade Commission warns homeowners to beware of companies looking to scam you out of your money and even your home.

As a homeowner in Santa Ana or elsewhere, if you are struggling to make your mortgage payments, it is best to use the help put in place by the government rather than buy into the false promises of a loan modification scam. On July 23, the FTC and the Consumer Financial Protection Bureau took action against mortgage relief scams that promised to prevent foreclosure and lower the interest rates of those who are struggling financially. Sadly victims were promised attorneys who would negotiate a loan modification with much reduced mortgage payments for a fee ranging from $500 to $3,900 according to the FTC.

Not only do these scammers charge a fee, but they encourage homeowner's to stop paying their lender. If you have been approached by a phony loan modification relief scam, do not fall for their fake gaurantees even if they offer you a refund. If you live in Santa Ana or elsewhere visit the following government website for help to stop foreclosure. Keep in mind that scammers use enticing ads, emails and letters, and may even spoof your current lender. In some cases, victims were asked to pay their mortgage to the loan modification company.

When it comes to identity theft, you have to be weary of who you trust. If you receive a mailer, email or phone call, research who is contacting you. Find another alternative and remember that only your current lender can give you a loan modification. For real loan modification help and resources to stop foreclosure, visit

If you have been the victim of identity theft and you live in Santa Ana or elsewhere, visit the FTC to report it at

As always thank you for your visit today. Please be sure to forward this article to your loved ones to help raise awareness about identity theft and loan modification scams.


FTC (2014). Federal and State Agencies stop phony mortgage relief schemes Federal Trade Commssion. Retrieved from

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