A letter promising a lower mortgage payment can look awfully tempting, especially when it arrives with your name, property information, and a very specific offer printed neatly on official-looking stationery. The Federal Trade Commission recently warned homeowners about a mortgage relief operation that allegedly mailed letters nationwide promising lower mortgage rates and monthly payments through a supposed government-connected program.
Remember, not every mortgage relief offer that arrives in the mail represents a scam. Legitimate mortgage assistance exists. However, this does mean homeowners should slow down before calling the number on the letter, paying a fee, handing over financial information, or doing anything else the sender requests. A lower payment sounds wonderful, but the wrong shortcut can turn a mortgage problem into an even bigger financial mess.
