(CONSUMER ALERT @ LOANSAFE.ORG) – Will these mortgage fraud and loan modification schemes ever stop? It makes me sick to see these scammers pawn their offers all over the internet with their cheesy websites and even cheesier Craigslist ads. Unfortunately, consumers are biting on the toxic cheese in record numbers as their economic stresses have caused their common sense to go out the reasoning window.

People are getting swindled left and right by illegal loan modification firms who could not perform a loan mod if their lives depended on it, to their worthless mortgage audits with no attorney backing.

Now, the new mortgage snake oil of the day is “loan modification software” and “mortgage auditing software.”

Apparently, these software programs will “allegedly” help you get a loan modification with your mortgage servicer because they have magical mortgage fixing algorithms and bank CEO convincing tools built in. Just pay the $299, download the program and walla, your loan modification is processed and your home is saved with the push of a button

Come on consumers of America! Don’t believe this mortgage crap!

Most ALL mortgage fixes being marketed are scams. Plain and simple.  This has been proven time and time again for the last couple years. The economic crisis has brought the worst out of sales people that have morphed from selling you a toxic mortgage to becoming full time white collar criminals on the internet and calling your phone.

It seems like when law enforcement shines a light on one fraud, just as quickly, a new scam is invented to take its place. I am calling this the new scam of the week. Loan modification software is BS and it is being mass marketed to unsuspecting homeowners and unprofessionals across the country.

Personally, I do not see much of a difference in fraud schemes. Whether it is sales people who illegally take your money to help you stop foreclosure or a website that uses bogus loan mod software and Paypal to take your money. They may be both frauds that use deceptive marketing and unproven claims to take  steal consumers money when they need it the most.

Be on high alert and most of all, DON’T BELIEVE THE MORTGAGE HYPE!

Moe Bedard
My name is Maurice "Moe" Bedard. I am the founder of America's #1 Mortgage Forum, LoanSafe.org. My online work has been featured in the New York Times, LA Times, Fox Business, and many other media publications.