Alert!  GreenPath Warns Consumers About Loan-Modification Scam

GreenPath advises clients to be aware that a for-profit “loan modification” company has recently published a deceptive website that leads consumers to believe it is associated with the U.S. Department of Housing and Urban Development. IT IS NOT.

This website, located at bailout.hud-gov.us, offers consumers a “bailout” and is deliberately deceiving the public by implying that it is an official U.S. Government Web site. With seals and logos very similar to those used by the Federal government --- and by using the name “HUD” in its web address and throughout the site --- the site’s developers appear to be generating leads for their for-profit loan modification business, but they may also be "phishing" for personal information.

GreenPath counselors hope this warning prevents people from becoming prey to the scam.

Foreclosure-mitigation workouts are currently available FOR FREE from nonprofit housing counseling agencies, like GreenPath, who have expertise and missions to serve in consumers’ best interests. These services are very different from for-profit loan modification “specialists” who charge high, advanced fees to, frequently, do little or nothing to help the homeowner in need of help.

Learn more about GreenPath’s housing counseling services.