The Fight Against Loan Modification Scams Intensifies

In an announcement Friday, the Loan Modification Scam Prevention Network, led by ""Fannie Mae"":http://www.fanniemae.com/kb/index?page=home, ""Freddie Mac"":http://www.freddiemac.com/, the[IMAGE]

""Lawyers' Committee for Civil Right Under Law"":http://www.lawyerscommittee.org/, and ""NeighborWorks America"":http://www.nw.org/network/home.asp, said it is launching a national campaign to prevent loan modification scams through public education, complaint reporting, and coordination with local, state, and federal enforcement agencies.

As part of this initiative, the network has launched a consumer-friendly ""Web site"":http://www.preventloanscams.org/, which is designed to support

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national, state, and local law enforcement efforts. This site is intended to serve as a nationwide clearinghouse and destination for loan modification scam information on complaints filed, laws and regulations, and enforcement actions.

""We want homeowners to know they have a place to turn to if they think they are being scammed,"" said Marietta Rodriguez of NeighborWorks America.

The Web site includes an electronic complaint form to report scammers, a list of individuals and organizations who have been identified by enforcement agencies to have allegedly committed a loan modification scam, and information on how to avoid a loan modification scam.

In addition, the site has state-by-state information about rules, regulations, and resources available to homeowners, and it posts news and information on enforcement efforts.

""This effort links homeowners to free, legitimate counseling and helps to put scammers out of business,"" said Jeff Hayward, SVP of Fannie Mae. ""The goal of this campaign is to educate homeowners and empower those who have fallen victim to scammers to report and prevent future fraud.""