With President Obama diligently working his way toward solving the mortgage crisis by encouraging lenders to help keep residents in their homes, his programs have been used by scammers to use false and deceptive advertising practices to scam homeowners out of their money. The latest scam is the fake “Obama Refinance Program” advertisements that many companies are saying that they offer. These advertisements come in the mail and has President Obama’s name or likeness written on the front of the envelope. Companies are advertising this way to get people in their door so that they can offer a “real” refinance loan product (which by the way has nothing to do with the Obama administration). President Obama does not participate in advertising for private companies and moreover, any and all refinance programs that may fall under his “Making Home Affordable Program” may be found on the federal government’s website at www.makinghomeaffordable.com.
Before you respond to mail that appears to be from the federal government or uses President Obama in it’s advertising, ask yourself a common sense question, “Have I ever seen President Clinton, Bush or any other President participate in a mortgage advertising campaign?
Obamas Refineance