Consumer Debt Protection: Loan Modification Scam Red Flags

Loan Modification Scam Red Flags

A consumer debt protection attorney is critical when you find yourself a victim of predatory lending practices.  One area of predatory lending is in the area of  home mortgages.  According the Washington State Department of Financial Institutions, there are warning signs to help you identify these companies.The following are warning signs of a Loan Modification Scam:

1.  Company operates out of state.2.  Company is not licensed with DFI.3.  Company will claim a license is not required because attorneys are involved.4.  Out of state attorneys are not licensed to practice in Washington.5.  Money is required upfront before any paperwork is reviewed or signed6.  Company tells you NOT to contact your lender7.  Company requires direct access to your bank account or credit card

Consumer Debt Protection Practices

You can determine whether lenders are properly licensed using the “Verify a License” feature on the Washington State Department of Financial Institutions' website.The Rosenberg Law Group, PLLC and Bellevue attorney Mark D. Walters, Walters Law Firm PLLC have joined forces to help consumers recover fees paid to unscrupulous credit card relief and home loan modification companies.Give us a call if you believe your rights have been violated.

We offer a free consultation with our consumer debt attorneys.

If you have questions or would like to learn more, please visit our consumer debt protection attorney services section.  We are waiting to assist you.