Madison Park Times 05-01-20

Page 1

May 2020

Serving East-Central Seattle since 1983

facebook.com/MadisonParkTimes

@MadisonParkTime

Madison Park Times www .M adison P ark T imes . com

Mortgage Relief and COVID-19 Scams: What You Need to Know

Featured Stories

Frontline Workers Page 3

Photo courtesy Tero Vesalainen / iStock via Getty Images Plus

(StatePoint) Unfortunately, during times of hardship, families are often targeted by fraud artists attempting to take advantage of those needing assistance. The COVID-19 crisis is no exception, with many scammers pretending to extend a critical lifeline to struggling homeowners through socalled “foreclosure rescue fraud.” According to Freddie Mac, this scheme involves bad actors offering false promises of being able to save your home from foreclosure. Common elements of this fraud include the following: • Requiring you to sign over the title to your home. • Asking you to sign unfamiliar documents and/or share your pe sonal information.

• Spot imposters. Scammers across the globe can make any name or number appear on your caller ID or email. Protect yourself from spoofing by letting calls go to voicemail first. If a call is important, the caller will leave a message. If you do answer and it is a robocall, don’t press any numbers. Just hang up.

• Report fraud. Freddie Mac will never reach out to offer a refinan ing opportunity or new loan over the phone. If you have been contacted by someone claiming to represent Fre die Mac, you can report it by visiting sf.freddiemac.com/working-with-us fraud-prevention/feedback.

While there are fraudsters out there offering false promises, know that there is real assistance on offer during this crisis, too. Contact your loan servicer to discuss your options. If Freddie Mac owns your mortgage and you are a homeowner unable to make you mortgage payments due to a decline in income resulting from COVID-19, you can learn more about available mortgage relief options by visiting MyHome.FreddieMac.com. Your family’s health is no doubt topof-mind these days. However, it’s also important to remember that fraudsters are out in full-force, making your financial vigilance a crucial priority as well.

Selling Real Estate Page 4

Stay Informed Page 10

THE FIRST SHOWING IS ONLINE,

I MAKE IT COUNT

MODERN CHIC, MADISON PARK

• Charging you rent to stay in your home and/or potentially promising that you can purchase your home back when your financial situation improves.

USELESS BAY, WHIDBEY ISLAND

Another common fraud involves a third party guaranteeing you a loan modification with a reduced mortgage payment. Such scams may operate similarly as foreclosure rescue fraud, as fraudsters collect an upfront fee and promise to work with your loan servicer on your behalf.

$1,7 95,000 60 feet of pristine no-bank waterfront on Shore Ave in Useless Bay. On one of the most desirable strips of waterfront in the NW. First time available in 45 years. Grand views of Mt. Rainier. “Toby turned the often harrowing real

So what can you do to protect yourself ?

estate experience into a smooth and

• Don’t disclose. Never provide your information via phone or internet until after you have verified the caller or company’s identity.

realtor who is also a joy to be around,

• Be suspicious. If someone has co tacted you asking for personal or sensitive information, do your homework to verify the validity of the request before providing any information. Contact your servicer (the company listed on your mor gage statement) and confirm that they called you asking for information.

all but effortless ride. If you’re looking for an experienced, knowledgeable he’s your guy. ”

TO BY LU M PK I N

SPAFFORD ROBBINS 206.963.7770

|

206.786.2035 Toby.Lumpkin@rsir.com

SPAFFORDROBBINS.COM

Each office is Independently owned and operated.

PRSRT STD U.S. POSTAGE

PAID

SEATTLE, WA PERMIT 1271


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.