Keep alert for a wide variety of loan scams – you need to protect yourself and your money from fake lenders and scam artists alike. Ensure that you read about the latest scam techniques, such as these scammers using company names and logos that they took from real loan companies so that they can hide the scam operation. Also take the time to learn about foreclosure fraud, phony debt counselors, advance fee loan scams, and identity phishers – they all tend to fall into the same group and you can usually spot them easily if you take the time to learn their possible schemes. Once you’ve done enough research, you can steer clear of scam artists and operations easily. If you happen to find yourself scammed, immediately report it to the Federal Trade Commission and law enforcement. Those two organizations will be your first line of defense and your best bet for not only saving your money, credit, and identity, but also putting the scam artists behind bars.
It’s a dangerous world out there…being prepared is a necessity – especially in these economic times 😉