U.S. schools homeowners to spot loan rescue scams

And it is one of the first places targeted in the homeowner education campaign launched on Monday by government agencies, local leaders and housing advocates to stop scammers preying on desperate borrowers nationwide.

Officials do not know how many scams have been perpetrated among millions of American families who have lost their homes or face foreclosure. But they do know that scams exacerbate the foreclosure crisis because borrowers lose precious time and money that could have kept them out of default.

Some of the places with the highest subprime loan and foreclosure rates also have the biggest scamming industries -- like Los Angeles, where Mayor Antonio Villaraigosa rolled out the "Loan Modification Scam Alert" campaign with federal agencies like the Federal Trade Commission and the advocacy group NeighborWorks America.

In coming weeks, the campaign will go to other hard-hit areas like Miami, Florida, and Columbus, Ohio, and it will target those groups most affected -- senior citizens, Hispanics, African Americans and Asian Americans.