Stay Away From Loan Modification / Foreclosure Prevention Scams.

The Federal Bureau of Investigation, the Office of Housing and Urban Development, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, the FDIC, the United States Justice Department and numerous state Attorney Generals encourage consumers to be aware of loan modification and foreclosure prevention scams.

With millions of Americans facing foreclosure, scam artists are devising plans to rip off unsuspecting homeowners.

Look out for the following warning signs so you won't be scammed. You might be a victim of a loan modification / foreclosure prevention scam if:

• A mortgage modification / foreclosure prevention company is asking you to pay ANY UP FRONT FEES. This is ILLEGAL (in most states).

• A company promises to provide you a "do it yourself" loan modification kit for $19.99, $39.99 or even $99.99. These are only introductory prices, and if you need to speak with them or need their assistance, they will charge you another $299.99, $399.99 or $599.99 +. THIS IS A "BAIT AND SWITCH" SCAM.

• A law firm, mortgage broker, mortgage lender and/or real estate broker/agent asks you to pay ANY UP FRONT FEES.

• You are instructed to sign over the Deed to your house.

• You are pressured to execute a Deed in return for a third party to "payoff your mortgage."

• You are asked to do a "short sale" without the assistance of a licensed real estate company and without written approval by your lender.

• Someone promises that they can get your mortgage balances reduced and/or cancelled.

• A buyer promises to purchase your home and pay your mortgages for you.

Note: You do not want to do business with any loss mitigation company and/or law firm that is not approved and/or recommended by the BBB (Better Business Bureau).

If you feel that you have been scammed or taken advantage of by someone using one or more of the above referenced tactics, please contact the Attorney General of your home state.