MoneyDon't Waste Your Money


DWYM: Be careful of ads promising new homeowner stimulus plan

DWYM: Be careful of ads promising new homeowner stimulus plans
Posted at 6:36 AM, Oct 18, 2021

The stimulus programs for families have ended.

Or have they?

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 dollars to help pay your mortgage?

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 TV anchor reading this as breaking news.

But wait a minute: What TV station does she work for? It looks like CNN, but there's no logo.

The Better Business Bureau and AARP are warning about all these ads.

Saying there is no federal mortgage stimulus program.

Zilch, nothing, nada.

Some states have some individual programs to help homeowners in distress, but that is not this.

And from the doesn't that stink file, what happens when you click to apply?

You get a series of screens asking for your address, your home's value, how much you owe on it.

And in the end, you are pitched a refi program.

It's not a scam, but it's not a $3,000 stimulus.

And that stinks.

The Better Business Bureau says "there is no Congress-approved relief program for mortgage payments for Americans."

Despite what all those Facebook ads say.

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