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Some struggling homeowners have fallen prey to companies that promise to lower their mortgage payments. These fraudulent businesses bilk homeowners by requiring an upfront payment and then don’t fix the mortgage. This practice is happening all around the country. Here in Chicago, one neighborhood group is fighting back against the fraud.
Organizers at the Brighton Park Neighborhood Council stroll the 4400 block of South Christiana. They pass two-flat brick apartment buildings with flower pots on porches and children enjoying the summertime weather in the grass.
But this Brighton Park neighborhood has been hit with foreclosures and mortgage scams. Untoward companies have been charging homeowners in this area thousands of dollars to modify their loans. What some homeowners don’t realize is that there are free services and programs to modify their loans.
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