Many homeowners who are worried about interest rates rising may be thinking about refinancing their Brevard County mortgages. Unfortunately, unscrupulous people often take advantage of unsuspecting homeowners, cheating them out of money or even their homes.

Often, these scammers send e-mails, letters, or make phone calls offering great deals on refinancing your home. Here are some things that homeowners should know to protect themselves.

  • Do your research. Since 2010, any individual or company that provides loan modification services in Florida must be licensed by the Florida Office of Financial Regulation ( You can use their website to check to see if a person or company is properly licensed. Many scammers claim to be affiliated with the government or major financial institutions, so don’t be fooled.
  • Don’t pay up front. Don’t ever make an advance payment to any business or person who promises a great refinance rate or promises to prevent a foreclosure. Once you pay, the scammers will disappear. Don’t deal with anyone who insists on a fee in advance.
  • Don’t get rushed. “Limited time offers” and “act now to lock in these rates” can often indicate a scam. If you’re pressured to make a quick decision, don’t take the bait.
  • Don’t stop paying your mortgage. Some fraudsters will offer to handle your mortgage payments, and then will pocket the money. Send your payments ONLY to your mortgage company, and don’t stop making your payments. Also, don’t stop communicating with your mortgage company. Sometimes scammers will advise you not to take calls from your mortgage company because they don’t want you to find out the scammer hasn’t done anything for you.

Get help with your refinancing

If you’re planning to refinance, you can avoid scams and find legitimate lenders through Embrace Home Loans. Our experienced Brevard County mortgage professionals can help you successfully refinance your home and get the mortgage solution you need. Please browse our website, or call 407-733-6425, for more information.

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