Since the beginning of the mortgage crisis, many experts have blamed the explosion in foreclosures on risky sub-prime loans. But USA Today reported recently that the rate of foreclosure for prime borrowers has been increasing, mainly because of rising unemployment rates. To read the rest of the article, CLICK HERE.
Over the summer Ruth Ezell did a Living St. Louis segment on mortgage scams. You can check out the video below.
Legitimate housing counseling agencies won’t contact you or send out advertisements. Their services also shouldn’t cost anything. You should be wary of any company that seeks you out and/or that is charging you a lot of money for housing counseling.
If you or someone you know is facing foreclosure, make sure you use a HUD-certified housing counseling agency. To find one, call United Way’s 2-1-1 Referral Service at (800) 427-4626.