Cuccinelli warns of mortgage settlement scam calls

Attorney General Ken Cuccinelli today warned Virginians to be cautious of scam phone calls or e-mails related to the recent multi-state mortgage servicer settlement. There have been numerous reports of citizens receiving scam phone calls, where the caller claims to possess a list of citizens who are eligible for money from the mortgage settlement. The caller requests the consumer's bank account number and alleges that he will direct deposit settlement money into the consumer's bank account.  This is a scam.  Mortgage borrowers should contact their mortgage servicers directly to obtain more information about specific loan modification programs and whether they qualify under terms of this settlement (phone numbers are below).

It is unclear if these scammers are posing as bank associates or as a third party company claiming to be working with the settlement.

"I cannot stress this enough:  Never give out your bank account information-or any personal information for that matter--to someone who calls you.  Instead, call a known number for your financial institution, so you are sure you are reaching a legitimate contact," said Cuccinelli. "We have provided settlement information on our web site, ag.virginia.gov, including phone numbers consumers can call to determine their eligibility for settlement programs."

For more information on the proposed agreement: 
www.NationalMortgageSettlement.com

For eligibility questions:

Borrowers should contact their mortgage servicer to obtain more information about specific loan modification programs and whether they qualify under terms of this settlement. The toll free numbers for the settling servicers are:

Bank of America: (877) 488-7814
Citigroup: (866) 272-4749
J.P. Morgan Chase: (866) 372-6901
GMAC: (800) 766-4622

Wells Fargo: (800) 288-3212

For those who have had multiple changes of address:

For Virginians who went through a foreclosure during the period from January 1, 2008, through December 31, 2011, and whose loans were serviced immediately prior to foreclosure by one of the settling servicers, but who are worried that the settlement administrator will not be able to locate them due to multiple changes in address in the intervening period, please visit ag.virginia.gov and click on Mortgage Servicing Settlement Agreement under Hot Topics and complete the Address Update form. The attorney general's office will collect your information and forward it to the settlement administrator.