Recently, one of my clients advised that she was contacted by someone claiming to be a bank servicing representative with the mortgage company servicing her loan and further claimed that the bank was offering a modification and requested that my client immediately tender the new mortgage payment. My client was excited to hear this especially since the "new mortgage payment" was less than what she was previously paying. Unfortunately for my client, her excitement got the best of her and after she sent in the check which was quickly cashed, she realized that she had been taken advantaged of since the "servicing representative" had disappeared as quickly as she cashed my client's check. There are other types of scams to be on the outlook for, such as, an offer made by an alleged bank representative who states that the bank is going to "write off" the loan if you send in one lump sum payment. It is very tempting to think that the bank will write off the loan for pennies on the dollar, and in rare situations banks have been known to do this, but it is unlikely and before you rush to send out a check to make your mortgage obligation go away, think again and make sure you investigate to see if it's the real deal. Don't be fooled by any scam. This is another reason to entrust your foreclosure matter in the hands of an experienced foreclosure attorney who can minimize this kind of risk while at the same time fighting the foreclosure action.
Arnold M. Bottalico is an experienced Long Island, NY foreclosure attorney with over 25 years of experience, and he welcomes your questions and comments.