Mortgage Relief Scams Targeting Families in Crisis

HONOLULU (Hawaii News Now) – Families struggling with mortgage payments may find deceptive debt relief offers enticing. State regulators caution that scammers are preying on those in dire situations. As the Mortgage Bankers Association predicts that 30-year mortgage rates will remain above 7% until 2027, the financial burden of borrowing increases, leaving individuals susceptible to fraudulent assistance offers.

Many of these unsolicited solicitations promise modifications, foreclosure help, or payment deferral in exchange for upfront fees, which is a significant warning sign. Dwight Young, Hawaii Banking Commissioner, advises against engaging with such offers and emphasizes contacting your lender for authentic resources. For more information, individuals can visit the Hawaii Foreclosure Information Center or reach out to certified HUD counseling services for legitimate assistance.