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NANAY Helps Homeowners Avoid Scams and Foreclosures during the 13th Annual National Consumer Protection Week

Top 10 Tips to Help Avoid Foreclosure and Scams in 2011

March 4, 2011
Miami, Florida ? NANAY Community Economic Development Corporation (NANAY-CEDC) is joining with federal, state, and local government agencies and national organizations to celebrate the 13^th annual National Consumer Protection Week (NCPW) coming March 6-12, 2011.

During NCPW, groups nationwide share tips and information that help consumers protect their privacy, manage money and debt, avoid identity theft, and avoid frauds and scams. Unfortunately, this year an estimated 4 million households nationwide are expected to face the risk of foreclosure.Millions of homeowners will try to reduce their mortgage payments with a loan modification. The scammers know this.

NANAY-CEDC, a partner of the national Loan Modification Scam Alert campaign, has 10 tips to help Florida homeowners seeking foreclosure prevention assistance this year:

1. Contact your lender first as soon as you get concerned about paying your mortgage.

2. Determine your options by speaking to your lender's loss mitigation department.

3. Be patient but persistent with your lender, because getting a loan modification takes time.

4. Call NANAY-CEDC, a local HUD-approved counseling agency at 305-981-3232 or ((888) 271-7155 to receive loan modification assistance services for free.Or visit www.LoanScamAlert.org.

5. Meet with a counselor at NANAY-CEDC, where trained counselors are available to provide assistance in English, Spanish, Tagalog and Chinese, upon request.

6. Beware of loan modification scams. Some companies and individuals are out to take advantage of homeowners seeking loan modifications.

7. Avoid anyone who asks for a fee prior to providing any loan modification service, including companies, individuals and even some lawyers.

8. Avoid anyone who guarantees to get your loan modified or stop a foreclosure, because nobody has the power to make this promise.

9. Avoid companies that tell you to stop paying your mortgage and to pay them instead. This is a sure sign of a scam.

10. Report loan modification or foreclosure scams at any time by visiting www.LoanScamAlert.org or calling 1-888-995-HOPE (4673) or by calling NANAY ?CEDC at ((888) 271-7155.

About the Loan Modification Scam Alert Campaign

Loan modification scams are proliferating at a rapid pace?costing unsuspecting homeowners thousands of dollars and often their homes. To help combat this issue, Congress asked NeighborWorks America? to launch a national public education campaign in 2009. Today, the Loan Modification Scam Alert campaign empowers homeowners to protect themselves against loan modification scams, find trusted help and report illegal activity to authorities. For more information about the campaign, visit www.LoanScamAlert.org.

ABOUT NANAY-CEDC and National CAPACD:

NANAY Community Economic Development Corporation (NANAY-CEDC) , a HUD-approved counseling agency and organizational member of the National CAPACD Network, was established in 2004 as a 501(c)(3) affiliate of NANAY Inc. to promote affordable housing, community development programs and education for low to moderate income individuals and disadvantaged families. Its current programs include first time homebuyer education, housing counseling, financial literacy, loan mitigation and foreclosure intervention.

The National Coalition for Asian Pacific American Community Development (National CAPACD) was founded in 1999 as the first national organization dedicated to the housing and community development needs of Asian American and Pacific Islander (AAPI) populations. Established by community development practitioners, National CAPACD has built a network of over 100 organizations and individuals in 17 states that use innovative affordable housing, community development and organizing strategies to improve the well-being of low-income AAPIs.

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NANAY - National Alliance to Nurture the Aged and the Youth

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Telephone: 305-981-3232 FAX: 305-981-3231

Mailing Address:: NANAY COMMUNITY CENTER: 659 N.E. 125 Street, North Miami, Florida 33161
For more information, Contact: nanay2011@aol.com

WEBMASTERS: joybruce@aol.com, ross.bruce@qbisgroup.com

NANAY Inc, is supported by Florida Older Americans Act, Alliance for Aging for Miami-Dade and Monroe Counties, Florida Department of Transportation, Miami-Dade Alliance for Human Services, Dept of Health and Human Services, Miami-Dade County Office of Community and Economic Development, North Miami CDBG, Association of Asian Pacific Community Health Organizations (AAPCHO), National Asian Women's Health Organization (NAWHO), AETNA Foundation and United Way (Miami-Dade Reg. # 161126)