Greetings neighbors,

As you know, the economy has not been so great lately which is starting to affect many people throughout the country. With so many people being laid off or losing their jobs, many families are facing financial hardship. With so many Americans in distress it has become somewhat easy for these people to be taken advantage of.

With that being said, homeowners in distress need to be aware of loan modification scams. Most of these scams consist of distressed homeowners providing large up front fees and receiving no benefits or results. Organizations such as the FBI, State Attorney General, Department of Real Estate, the California State Bar, and the California Legislature have been looking into the scam.

This past spring, the Department of Real Estate had more than 750 complaints regarding loan modification scams that were under investigation and the FBI were investigating more than 2,100 nationally.

So far, the state of California has been hit the hardest by the loan modification scam.