These tips for spotting and avoiding VA home loan scams come from the Consumer Financial Protection Bureau. Many service members, Veterans and military spouses have been receiving fraudulent calls and mailers from companies who claim to be affiliated with the government, VA, or their home loan servicer. These calls or mailers often try to sway you to refinance your home, agree to a loan modification, or pay your loan via purchased money orders. They may also try to convince you that your home is facing foreclosure.

Be wary of any individual or lender that contacts you and:

  • Asks you to pay fees upfront before receiving any services
  • Tells you to cancel your mortgage payment and resend the funds elsewhere
  • Asks you to make your mortgage payment via money order or gift cards
  • Tells you to make mortgage payments to someone other than your current loan servicer
  • Asks you to stop making mortgage payments altogether
  • Represents that they’re calling on behalf of VA or another agency of the U.S. government
  • Guarantees to get you a loan modification or stop the foreclosure process
  • Asks you to sign over the title to your property
  • Pressures you to sign papers you haven’t had a chance to read thoroughly or that you don’t understand
  • Or other unusual offers or requests

To continue reading the rest of the article, please click on the source link below:

https://blogs.va.gov/VAntage/92256/consumer-fraud-alert-tips-for-avoiding-va-home-loan-scams/