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Terry Goddard Releases Video to Help Stop Mortgage Scams

(Phoenix, Ariz. - June 8, 2010) Stepping up his efforts to prevent home loan rescue scams, Arizona Attorney General Terry Goddard today announced the release of a free, five-and-half-minute educational video that provides useful information about home foreclosure and tips to avoid becoming a victim of scam artists.

The video is available on the Attorney General’s website, www.azag.gov.  It was made possible by last year’s historic settlement between the State of Arizona and Countrywide Financial Corporation.

“Many families in neighborhoods all across our state are in crisis.  Thousands are at risk of losing their homes to foreclosure.  And the problem is made worse by some unscrupulous companies and individuals who claim they can help consumers keep their  homes, when what they are really doing is stealing money and making the situation even worse,” Goddard said.   

“To help Arizonans avoid being a victim, my office has produced this video and is providing it at no charge. There is valuable information in the video regarding foreclosure prevention and how to spot the scam artists operating in our state.” 

The video will be distributed across Arizona to housing counseling offices, faith-based organizations, corporations and non-profit organizations.  Residents can also contact the Attorney General’s Office at 602.542.2123 to request a copy.

Goddard also noted that a new state law, which takes effect July 29, will assist efforts to stop housing scam artists. The new law prohibits "foreclosure consultants" from charging upfront fees for their services.

If you or someone you know is facing foreclosure, Goddard recommends seeking assistance promptly from your mortgage lender or servicer or a government-approved housing counselor. Distressed homeowners can be connected to free counseling services through the Arizona Foreclosure Prevention Help-Line at 1.877.448.1211.  Additional information for homeowners is available through the Attorney General’s Foreclosure Resource Center here

And if you believe you may be a victim of a scam, please contact the Attorney General’s office, Consumer Information & Complaints, 602.542.5763.