Fake mortgage modification Page Article Fake mortgage modification services are a type of financial fraud in which scammers pose as legitimate companies or organizations that offer to help homeowners modify their mortgages to make them more affordable. The scammers may promise to negotiate with the lender on the homeowner's behalf or offer to file paperwork for government-sponsored mortgage modification programs, but in reality, they are only interested in collecting upfront fees from the homeowner and providing little or no assistance.Here are 10 steps you can take to prevent falling victim to fake mortgage modification services:Do your research: Research any company or organization that offers to modify your mortgage to ensure that it is legitimate and has a good reputation.Verify the company's credentials: Check the company's credentials and licenses with relevant government agencies or professional organizations.Don't pay upfront fees: Be wary of any company that requires upfront fees before providing any services. Legitimate mortgage modification companies typically don't charge upfront fees.Read the contract carefully: Read the contract carefully and make sure you understand all of the terms and conditions before signing anything.Keep records: Keep copies of all documents related to your mortgage modification, including emails, letters, and phone conversations.Don't sign over the deed: Don't sign over the deed to your property to any company as part of the mortgage modification process.Avoid pressure tactics: Be cautious of any company that uses high-pressure tactics to convince you to sign up for their services.Don't stop paying your mortgage: Don't stop making mortgage payments while you're working with a mortgage modification company. If you do, you could risk losing your home to foreclosure.Seek advice from a trusted source: Get advice from a trusted financial advisor, attorney, or housing counselor before making any decisions about mortgage modification.Report fraud: If you believe you have been a victim of mortgage modification fraud, report it to the appropriate authorities, such as the Federal Trade Commission, your state's attorney general, or the Consumer Financial Protection Bureau.