Watch Out for Foreclosure Scams
The Fed has produced this new ad for people facing foreclosure. The rise in foreclosures has also meant a rise in scam artists offering bogus and expensive help to stressed homeowners. Foreclosure help is free through nonprofits working with the government, but homeowners often don’t know about these options. Meanwhile, they are aggressively pursued by for-profit outlets out to make money.
To raise awareness about good foreclosure help and hopefully prevent familes from falling prey to scammers, the Federal Reserve Board produced and will place these ads in movie theaters in April. To read more, see this article from the Wall Street Journal.