Statistics reveal that in 2011, more than 750,000 homeowners received default notices. Almost as many homes were repossessed. Unfortunately, many Florida homeowners continue to face default and remain at risk of losing their homes to foreclosure. Simply put, our country is facing a terrible mortgage and foreclosure crisis that as of yet has shown little sign of stopping.

Unfortunately, because scam artists are eager to take advantage of unsuspecting and vulnerable victims who are desperate to keep their homes, people whose mortgages are in trouble may be particularly at risk of losing even more money, and being left in a position in which they are more likely to lose their home, after they are taken for a ride by a scammer.

In the past, mortgage modification scams tended to focus on certain geographic areas. However, now that the Internet is so widely utilized, mortgage modification fraud is very widespread. In fact, mortgage modification scams have become an epidemic nationwide, including in Florida.

Florida homeowners should be very wary of mortgage modification firms that sound official, but do not have the homeowner's best interest in mind. For example, in one such case, a scam artist convinced an elderly woman to sign over the deed to her home. After the scam artist did not make any payments, her home went into foreclosure and she was evicted.

While investigators are pursuing schemers and shutting them down by filing criminal charges, new scammers pop up all the time. It's a constant race to stay ahead and sometimes authorities find themselves one step behind.

As a result, it is important for Florida homeowners to protect themselves from scams. Homeowners should be particularly wary of anyone who guarantees a successful mortgage modification, because though it is very possible to modify your home mortgage terms, there is no guarantee that a lender will agree to such a modification. Anyone who is seeking relief under the U.S. Home Affordable Modification Program (HAMP) should be extremely careful to rely only on a reputable and well-established firm.

Source: Tucson Citizen, "Foreclosures feed mortgage modification scams," Jennifer Dixon, Jan. 8, 2012