Freddie Mac uses YouTube to warn of foreclosure scams

Freddie Mac is turning to YouTube, a video-sharing Internet site, to educate homeowners about the dangers of losing their dwellings in foreclosure scams.

Freddie Mac, one of the largest U.S. investors in residential mortgages, recently produced a two-minute video to dramatize some of the deceptive practices that are used to commit foreclosure fraud.

Dishonest foreclosure consultants often charge large upfront fees and do little or nothing to renegotiate loans. They sometimes ask homeowners to sign over the deeds to their homes on the false promise that they can continue living there as renters and eventually regain ownership.

For a look at the new Freddie Mac video go online at youtube.com/AvoidFraud.


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