Washington State AG Cautions Homeowners Against Rackets Peddling So-Called 'Securitization Audits' & Other Loan Modification Scams

From the Office of the Washington State Attorney General:

• Attorney General Rob McKenna today reminded homeowners needing assistance to avoid companies selling “foreclosure rescue,” “securitization audits” and other home loan modification schemes.



• “Free or reduced fee housing counselors are available nationwide to assist homeowners in working with their lenders, so there really isn’t any reason for a consumer to pay hundreds or thousands of dollars for these services,” said McKenna. “Unfortunately, we continue to hear from homeowners who have lost their money after paying large, up-front fees to companies who ultimately did not deliver on their ‘foreclosure rescue’ promises.”



• In recent years, new companies have cropped up across the country aiming to take advantage of vulnerable homeowners and capitalize on all of the conflicting and confusing news and information relating to the mortgage crisis.

For the Washington State AG press release, see Attorney General reminds homeowners to avoid new foreclosure rescue scammers.