Kansans Warned of Mortgage Scam

By: Associated Press
By: Associated Press

TOPEKA, Kan. (AP) _ Kansas consumers are being warned to beware of companies that charge money to help modify home mortgages.

In a news release, the state attorney general's office said Thursday that scammers target those who are in the midst of foreclosure or delinquent on their mortgages. Companies make telemarketing-style calls and go door-to-door looking for victims.

The service is offered for an upfront fee of anywhere from $500 to $1,000 followed by a larger amount of money, usually between $2,500 to $10,000. Modification scams charge thousands of dollars for handling paperwork, something homeowners can do themselves for
little or no cost.

President Barack Obama's "Homeowner Stability and Affordability Plan'' does not use modification companies to implement the program.
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Homeowner Stability and Affordability Plan:
http://www.financialstability.gov
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Kansas Attorney General: http://www.ksag.org/home

(Copyright 2009 by The Associated Press. All Rights Reserved.)


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