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How to Avoid Foreclosure Rescue Rip Offs

For those threatened by foreclosure, they are vulnerable to foreclosure assistance companies who claim they can help them save their homes. Fraudulent foreclosure 올인구조대‘ professionals tell their clients half truths and blatant lies to sell services that supposedly bring relief, but fail to deliver. Their goal is to make quick profit from fees or mortgage payments they collect from homeowners which, they do not pass on to lenders. There are times they assume ownership of these homes by deceiving the homeowners. By the time the homeowner realizes what is going on, it will be too late to save the home. They take the property, and some other times clean out the equity. This leads to home loss despite one’s best efforts.

The Federal Trade Commission (FTC), which is the United States of America’s consumer protection agency, has pointed out ways to recognize scams. Even if a homeowner facing foreclosure has started working with someone or a company. Or even the homeowner who is threatened by other bodies that can foreclose on your home like the IRS, Homeowners’ Associations, to name a few. There are legal options for people in these situations to save their homes.

THE SCAMS

Mortgage companies use different tactics to find homeowners in distress. Some of them go through public notices in newspapers and on the Internet or public files at local government offices. They send out letters to the homeowners. Some others take a broader approach by placing ads online, television, newspaper, posters on telephone poles, median strips, bus stops, or flyers or business cards at the door.

These scan artists use very simple and straight forward messages like these:

“Stop foreclosure now!” “We guarantee to stop your foreclosure.” “Keep your home. We know your home is scheduled to be sold. No problem!” “We can save your home. Guaranteed. Free consultation.” “We stop foreclosures every day. Our team of professionals can stop yours this week!”

The moment the homeowner’s attention is gotten, various tactics are used to get their money. Here are some of the ways:

Phony Counseling or Phantom Help

These scam artists tell homeowners that they can negotiate deals with the lenders to save their homes if a fee is paid first. Some will tell their clients not to contact their lenders, lawyers, credit counselors. They ask them to let them, the scam artists handle everything. Once the fee is paid, the scammer takes off with the money.

Other times, the scammer convinces the homeowner to make all mortgage payments to them while they negotiate with the lenders. The scam artists will collect some months’ payments and disappear.

Bait and Switch

Sometimes homeowners think they are signing documents for a new loan to keep the existing mortgage current, not knowing they are being tricked.