RESEARCH & LEARN

Mortgage Elimination Scams


Mortgage Newsletter

Check Local Mortgage Rates

Today's Average 4.78%

Calculators

FEATURED CALCULATOR

Loan Program Choices

Use our calculator to find out your estimated monthly payment in advance: Enter the loan amount, interest rate, and length of mortgage.
Try our Mortgage Payment Calculator


TERMINOLOGY

In the mortgage industry today, there are many mortgage elimination scams that are running rampant. If you are approached about one of these opportunities, you will want to make sure that you are very cautious. Here are a few things to consider about mortgage elimination scams.

Mortgage Elimination Scams

Even though there are many variations on this scam, the basic idea is the same. A company will approach you about showing you a way to completely eliminate your mortgage. They claim that you will be able to do some administrative process that is going to completely eliminate your mortgage debt. They say that you will not have to go through foreclosure or hurt your credit. In return for showing you this revolutionary system, the company is going to require you to pay them a large one-time fee.

None of these programs are legitimate. Therefore, you are basically going to be giving someone thousands of dollars just to give you a course that shows you how to do something that is not going to work. You will not be able to eliminate your mortgage and will have lost thousands of dollars.