CNBC Reporter Diana Olick Wrote A Great Piece About MFI-Miami on Her CNBC Blog

In the aftermath of the financial crisis, a new breed of scam artists has emerged. The financial landscape has been flooded with loan modification companies. The vast majority of these are scams. However, the government has been slow to move to shut these scammers down. The problem is the government also doesn’t know what to do.

The way we as a people get people to act is by speaking up and making noise. CNBC reporter Diana Olick has been following MFI-Miami and has also helped raise awareness to the pandemic of loan modification scams flooding the US.

 Olick Writes Great Piece About MFI-Miami

CNBC Reporter Diana Olick wrote a great piece on MFI-Miami Founder Steve Dibert’s crusade to expose shady loan modification scams. Scams that prey on and exploit homeowners facing financial ruin and distress. Olick writes:

I’ve been talking a lot to someone on the forefront of the loan mod scam epidemic, interestingly, a former subprime lender himself. Steve Dibert started a website, where he seeks to educate troubled borrowers on the ever-increasing number of scams targeting them.

To be totally fair, he does operate a “forensic mortgage auditing firm,” ie fraud investigations, and for that he charges a fee.

Anyway, he keeps me posted on the latest greatest scams, and I thought I’d share one.

Steve writes:

I have had four people already approach me about the mysterious “Form 009-S Payment Reduction Notification” from the “Program Director.” In my opinion, whoever did this is an evil genius. Everyone has heard of the stimulus package and President Obama’s commitment to help homeowners. So this document seems like it could be legitimate. People are desperate, and that desperation causes them to want to believe anything.

To be fair, in the fine print at the bottom of the form, it does say: “This product or service has not been approved or endorsed by any government agency and this offer is not being made by an agency of government…Rates and terms are subject to change.”

I actually find that part the worst, as this is so clearly designed to confuse borrowers seeking real government assistance.

In addition, you can read the rest of Diana Olick article about MFI-Miami founder Steve Dibert in her new article, “Scam Artists at Work: Borrowers Beware.”

You can also read her article here…

Also, Check Out More Stories About Loan Modification Scams On MFI-Miami.com