Misleading websites falsely claim to offer PHFA loans

By Kim Shindle | Oct. 8, 2013 | 2 min. read

scamRealtors® and consumers are being alerted to predatory websites that claim to offer Pennsylvania Housing Finance Agency (PHFA) loans.

PHFA urges consumers and Realtors® to contact PHFA to confirm the loan is a PHFA product. “A simple phone call would ensure they’re getting an actual PHFA loan,” said PHFA spokesperson Scott Elliott.

The agency advises consumers that the best way to be sure they are getting a PHFA home loan is to receive confirmation from a PHFA customer service representative on the agency’s Homeownership Hotline at 800-822-1174. Staff is available weekdays from 8 a.m. until 5 p.m. to answer consumer questions. A few minutes spent on the phone confirming a PHFA loan can protect people from deceitful scam artists.

“We want to ensure that consumers have access to the best housing programs and products, and we are concerned that sometimes our good name is used unscrupulously to endorse products we do not support,” said PHFA Executive Director and CEO Brian A. Hudson Sr. “We’ve worked hard to make PHFA’s name one that people can trust. We regularly take action to shut down these deceptive websites, and we will continue to work to protect consumers from scam artists using our name to mislead the public.”

Another valuable resource for consumers is a network of housing counselors located conveniently around the state. Before signing a home loan contract, a consumer can contact a housing counseling agency for help confirming whether a loan actually is a PHFA loan. Many counseling services are available for free.

A list of PHFA-approved lenders also is available on the PHFA website.

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