Don’t Waste Your Money: Mortgage stimulus advertisements

Don't Waste Your Money

(WHTM) — Those pandemic stimulus checks have ended and are unlikely to come back. So, what are all these ads for a new homeowner’s stimulus that could provide up to $3,800 to pay for your mortgage?

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The ads are all over social media: “A new 2021 mortgage relief program is giving back $3,708 in savings to homeowners” or “New stimulus program is giving relief…” With a picture of a television anchor reading the ad as breaking news.

The Better Business Bureau and AARP are warning about all these ads saying there is no federal mortgage stimulus program. States have some individual programs to help homeowners in distress, but that is not this.

What happens when people do click to apply? They get a series of screens asking for their address, their home’s value, how much they owe on it, and in the end, they are pitched a Refi program. It is not a scam, but it is not a $3,000 stimulus, either.

The Better Business Bureau says “there is no Congress-approved relief program for mortgage payments for Americans.” Despite what all those Facebook ads say.

Be careful of any offer for government help that takes you to a website that does not end in .gov that way you don’t waste your money.

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