Federal Reserve tells St. Louis to beware foreclosure scams - KMOV.com

Federal Reserve tells St. Louis to beware foreclosure scams

(KMOV) -- The Federal Reserve is warning homeowners to beware of foreclosure scams.

Volunteers are hanging information cards on doors in St. Louis, St. Charles, Normandy and Belleville neighborhoods warning homeowners of loan modification scams.

According to the Federal Reserve, businesses who sold bad loans are now reinventing themselves telling homeowners they can help save their homes for a price.

They say if a business guarantees it can stop a foreclosure for an upfront fee it is most likely a scam.
 

 

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