RISMEDIA, April 20, 2011—The U.S. Department of Housing and Urban Development (HUD) is launching a new campaign in Miami, Chicago and Los Angeles called Know It. Avoid It. Report It. This campaign has two objectives. First, it aims to direct homeowners facing foreclosure to trusted resources and housing counselors. Second, and more importantly, the campaign wants to solicit the support of homeowners in shutting down scammers who regularly target the elderly, Hispanics and African Americans. Both objectives will be pursued through education and outreach, anti-scam reporting tools and close cooperation with federal, state, local and non-profit partners.
Newly deceptive scam artist tactics lure homeowners into misleading agreements. Their tactics include giving the false impression that they are affiliated with the government, charging illegal up-front fees and executing fraudulent lease-back, financing and repurchase schemes.
Highlights of the Know It. Avoid It. Report It. campaign include:
-Information on how to avoid becoming a victim
-Scam artist red flags and fraud warning signs
-Complaint form and hotline to report fraud or suspicious activity
-Resources for finding HUD-approved counselors and free housing workshops in every state
-Names of individuals and companies identified by law enforcement agencies who have allegedly committed loan modification fraud or foreclosure relief scams
Education, outreach and grassroots efforts in hardest hit communities include:
-Multilingual brochures, posters, flyers and other outreach materials
-Television, radio, print, mass transit and out-of-home advertising
-Social media activity
With millions of homeowners in foreclosure or at risk of losing their homes as they fall behind on mortgage payments, and eight million Americans expected to face foreclosure now through 2012, the timing of this campaign could not be more prudent.
HUD’s goal is to motivate homeowners to call 1-888-995-HOPE (4763) or visit www.hud.gov/preventloanscams to get the facts about fraud and to report suspected scammers.
For more information, visit www.hud.gov.
Copyright© 2013 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.
Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com