Back

Foreclosure Rescue Scams

   

How they work:

 
  The fraudster may use one of many ways to find homeowners who are in or near forclosure
   
  The victim may be found through newspapers or public records, others may be tempted by ads that they see in the newspaper, on television or flyers found on the street
   
  After receiving "personalized counseling" the victim will typically be given one or more options to choose from
   
  Bait-and-switch
  The victim thinks they have renewed their mortgage, but they have actually signed the title to their house over to the scammer
 

 

  Rent-toBuy

 

The victim knowingly signs over the title of their house, with the assumption that they wil lbe able to buy the house back after a few years. - In the end, the process is so difficult that purchasing the house is nearly impossible
   
  Bankruptcy Foreclosure
  The scammer agrees to negotiate a refinance plan with the victim's bank for a fee rather than allowing them to go into bankruptcy.  Often times, the scammer will pocket the money and file for bankruptcy without the victim's knowledge.- the result is a legal nightmare that costs a lot of money and may stay on your credit history for many years  
   
Click here for a brochure describing these scams in more detail

 


 

How Can You Protect Yourself?

   
Click here for information on how to protect yourself from these scams
   
Click here for more resources

The information on this page and it's links are meant for informational purposes only

if you have any questions about a product, offer or request for money or information, contact someone with experience in these matters