Here at Ace Mortgage Loan Corp, we hate to hear about people who thought they were getting a great deal on a mortgage loan or mortgage modification only to get scammed out of their hard earned dollars. There are plenty of scams going on all across the country and honest, hardworking people are getting absolutely raked over the coals by swindlers, crooks and immoral vagrants. We’ve been going over a few of the most common scams in the blog lately and we’ve got another one to talk about today.

Often referred to by some as a “phantom of the loan mod” this kind of mortgage scam gets people to pay up front and then they get left high and dry. Paying a fee up front is illegal, it’s plain and simple. Anytime someone claims to be able to modify your mortgage for an upfront, run in the other direction as fast as you can. They are a scammer who will take your money and be on the next train out of town. Sometimes they get clever trying to get you to pay up front, calling the payments “processing fees” or saying that there is a 30-day money back guarantee. You’d be amazed at how willing people are to give away their money and only get a piece of paper that says “money back guarantee” in return.

It’s easy to fall for the empty promises when scammers do everything possible to make them sound legitimate. Some play up how government programs use acronyms like HARP, so they make up their own and it sounds just like the real thing. Scammers often look and sound totally legitimate so getting fooled is really easy if you don’t know the warning signs. Paying up front should always be a red flag no matter what.

Ace Mortgage Loan Corp is dedicated to providing the best quality service to all of our customers. Getting a home loan or modifying a mortgage is a big deal and we understand that there are plenty of people out there who want to rip you off. The motto at Ace Mortgage is full transparency, meaning you the homeowner are intimately involved in the entire process no matter what. If there’s something you don’t understand, then we make sure to explain it in a clear concise way before we move forward.

Don’t trust your mortgage modification in Boca Raton to anyone but a consummate professional like those at Ace Mortgage Loan Corp.

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