Consumers are being warned of prerecorded telemarketing calls offering credit repair or loan modification services. Some consumers report they are receiving multiple calls per day.
During the call, a recording tells the consumer they qualify for a loan modification or credit repair and the call may quote a loan account number to make the offer appear authentic. However, when the consumer pushes the telephone button to talk to a representative, the recording states that no one is able to take the call. The recording asks the consumer to provide their name, address, account number and even social security number, promising someone will call them back. This is a scam to collect personal identity information from the unsuspecting victim.
The consumer is warned to not respond to these calls and never provide private information over the telephone. Providing private identification in this manner is an easy way to become a victim of identity theft.
The caller ID telephone numbers displayed when receiving these prerecorded telemarketing calls are fake and used in a process called “spoofing.” Current technology makes it possible to spoof a telephone number to display the source of the call. While spoofing phone numbers is illegal, it is virtually impossible to trace the source of these calls.
The Office of the Nevada Attorney issed the warning. “These calls are typically are generated by the thousands from locations outside the United States. Stopping this practice is difficult because the true identities of the callers are buried behind a line of entities that lease and then re-lease the telephone numbers to others,” said Attorney General Catherine Cortez Masto. “As a precaution, never respond to a telemarketing call, television or radio advertisement or mail solicitation without first checking whether the company is licensed in Nevada.”
There is no reason to pay for loan modification services, as these services are provided free of charge by a number of the Federal Department of Housing and Urban Development approved agencies which are listed on their website at: www.hud.gov/offices. Once on the website, just click on the State of Nevada on the map and a list of approved housing counseling agencies will be listed for our state. The consumer can also contact the Nevada Mortgage Lending Division to find a licensed loan modification company. All loan modification companies must be licensed by the Nevada Mortgage Lending Division.
Never pay an advance fee to any unlicensed loan modification company. If the loan modification company is in a different state, it is difficult and expensive to locate and prosecute such individuals. The consumer may not only lose their money, but they may also face the possibility of foreclosure on their property.