I recently learned that some Chapter 13 Debtors are receiving e-mails allegedly from mortgage servicers offering favorable loan modifications. When debtors are reaching out to the contact listed in the e-mail offer, they are told they need to cure certain negative escrow balances prior to the loan modification. At that point, the contact listed is asking for banking information to make the payment for the negative escrow or providing wiring instructions to be used at various locations. The offers are not being made by the mortgage servicers, but rather some bad actors who are preying on debtors.
I bring this information to you attention as you may want to encourage your clients to reach out to the entity servicing their mortgages directly at the numbers provided to them on their monthly statements, not at the number provided in the e-mail, if they receive such offers. Also, if your clients do receive such an e-mail, I would appreciate you passing that information on to me.
A sample of the e-mail with the names and account numbers redacted follows:
Subject: Loan Modification Assistance.
xxxxxxxxx
xxxxxxxxxxxxxx
______________________________
This is to inform you that you are eligible for federal mortgage assistance plan (Loan Modification). Here are the details of the plan, please go through the terms & conditions. Terms & condition of the mortgage assistance program.
(Loan modification)
1. Regular monthly payment will be lowered by 25%.
2. New interest rate – 2.25%.
3. Monthly back due payments if any – will be adjusted towards end of loan.
4. Skipping any payment on the scheduled date, will suspend this plan immediately.
5. Escrow to be paid if it is negative.
A federal attorney is assigned for you. Who will be authorized to approve your loan modification. You will be provided with an approval of a trial loan modification payments. Skipping any trial payments on the scheduled date, will suspend the loan modification on immediate basis. For any further assistance feel free to call your assigned representative. Relationship Manager – Mike Jones. Customer Service Department – (888) 405-4748.
Regards
