As homeowners across the state continue to struggle with mortgage payments, chances are there are scammers promising them false financial relief.Officials at the California Department of Real Estate - who have handled thousands of loan-modification complaints since late 2008 - have issued an alert about mortgage fraudsters in hopes of deterring more schemes. Loan modifications are permanent changes in loan terms, such as the reduction of interest rates, that would make monthly payments more affordable.
"The alerts go out when we're trying to get ahead of the curve on something," said agency spokesman Tom Pool.
Some tips to keep in mind when considering a loan modification:
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