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NeighborWorks combats loan mod scams via live awareness events

NationalMortgageProfessional.com
May 27, 2010

NeighborWorks organizations around the United States are holding more than 150 events during national NeighborWorks Week (June 5-12, 2010) to inform tens of thousands of homeowners on how to avoid and report mortgage modification scams. The events include hundreds of volunteers canvassing neighborhoods with tip-sheets and flyers, dozens of one-on-one and group workshops about reputable mortgage modification programs, and more. “Many mortgage modification scams are sophisticated, slick and so well crafted that homeowners find it difficult to recognize them for the danger that they are,” said NeighborWorks America Chief Executive Officer Ken Wade. “More than 7,700 mortgage modification scams have been reported to the authorities since our campaign started in October, and we believe that the number of homeowners who have been victimized is significantly greater.” Wade explained that national NeighborWorks Week--a time to celebrate vibrant, healthy and strong communities--is an ideal time for NeighborWorks organizations, which have worked so hard all year long to build communities and connect neighbors to neighbors, to take this stand. “The events this week will help homeowners learn how to avoid and report mortgage modification scams, which will sustain and protect the dream of homeownership for thousands," said Wade. "Promoting, preparing and protecting long-term homeownership has been a NeighborWorks Week tradition for 26 years." In addition to mortgage modification scam prevention events nationwide, NeighborWorks organizations also are holding traditional community celebrations and hands-on community building activities, including home repair and painting events, landscaping projects, and mural painting. These efforts, and those of NeighborWorks Week events over the past 26 years, leave positive lasting legacies in participating communities all year round. NeighborWorks Week is one of the country’s largest volunteer programs. In 2009, more than 16,000 volunteers worked to build better and strong communities. For more information, visit www.nw.org.
Published
May 27, 2010