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
  The victim thinks they have renewed their mortgage, but they have actually signed the title to their house over to the scammer




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

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