Foreclosure Rescue Alert » scam

Loan Modification – Part 1: Home Mortgage Bailout – Real Estate Foreclosure Prevention Process

admin — Thu, 01 Jul 2010 20:07:42 +0000

Loan Modification Attorneys Negotiate Home Mortgage Bailout – Foreclosure Assistance Plan – Real Estate Foreclosure Prevention Alternative To Fraud and Scams. ModificationHotline.com Will Help You Survive The Mortgage Meltdown Crisis by Modifying Your Home Loan. Avoid Foreclosure and Bankruptcy. Get Your Bailout Today. At http You Can Claim Your FREE Copy of My Latest Report: “THE FORECLOSURE SHARKS: A Look At The Rampant Theft Of Americans’ Homes Through Foreclosure ‘Rescue’ Scams”, and While There Also Sign Up For a FREE Consultation With Our Approved Foreclosure Prevention Specialists. Go To ModificationHotline.com and Complete Our Easy Form – It Takes 2 Minutes and Can Help You Save Your Home.

Bogus foreclosure rescue firms targeted

admin — Sat, 19 Jun 2010 20:20:49 +0000

Bogus foreclosure rescue firms targeted

Consumer Smart: Foreclosure Rescue Scams

admin — Wed, 19 May 2010 00:57:13 +0000

BBB’s Alan Bligh joins KIII-TV in Corpus Christi to talk about home foreclosure rescue scams and how Secure Your ID Day went (4/17/09)

Consumer Smart: Smishing and Foreclosure Rescue Scams

admin — Thu, 25 Mar 2010 11:24:32 +0000

bbb’s Alan Bligh appears on KIII-TV in Corpus Christi to discuss “Smishing” and foreclosure rescue scams (5/26/09)

Foreclosure Rescue Scams

admin — Fri, 12 Mar 2010 05:40:30 +0000

CLSMF saves house for women and late husband who were scammed by an unscrupulous “mortgage rescue” broker into signing over their house.

Avoid foreclosure rescue scams

admin — Sat, 09 Jan 2010 11:09:15 +0000

ConsumerAffairs.com’s Mark Huffman offers tips for identifying the foreclosure rescue scam.

Real Estate & Mortgage 7 – Foreclosure Meltdown Fraud & Scams Dec08 – Foreclosure Rescue Scams

admin — Sun, 29 Nov 2009 15:17:29 +0000

Amidst the Real Estate & Mortgage Meltdown; Foreclosure Fraud & Scams; Real Estates Future is Great. First Time Home Buyers, FHA Loans & Seller Paid Closing Costs. Go To RealEstateMarketingThisWeek.com Part 7 (Excerpt) Foreclosure Rescue Scams and How to Protect Yourself The Foreclosure Sharks, you have written this book or I think it’s called a white paper. Free report whatever you want to call it its packed full of really good and interesting information. It’s called The Foreclosure Sharks …

Bail-Out Foreclosure Scams – How To Get Legitimate Stop Foreclosure Help?

admin — Sun, 29 Nov 2009 00:53:24 +0000

Tired of handling your mortgage payment problems all by yourself? Perhaps you’ve been desperately searching for a solution that doesn’t involve losing your home to foreclosure but don’t really know where to turn for help. Someone knocks on your door and introduces himself as a ‘foreclosure rescue counselor.’ You are astonished by the coincidence and are more than willing to hear him out. He presents you with professional-looking credentials and glowing testimonials from prior clients who’ve been rescued from similarly desperate circumstances thanks to his efforts. He tells you exactly what you want to hear-

“I’ll get you a second mortgage with lower monthly payments”

“We’ll buy your house as it is”

“I’ll save your credit”

“If you sell the house to my company, the foreclosure will not be recorded against you. It’ll go on our records”

He might seem like a godsend sent to bail you out of your distress. In all likelihood though, the person is probably an experienced scammer who is only out to steal your money, your home, or both. The ‘bail out’ foreclosure scam is one of the most popular scams that con artists pull on unwary homeowners. It’s extremely easy to trick a homeowner into signing away the deed of their house, simply because their offer sounds so reasonable.

The person might tell you to sell your house to them at a very cheap rate while reassuring you that it’s not a real sale. They are quick to point out that it’s only a temporary measure designed to buy you time until you get your finances in order. You are told that you’ll be able to stay in your own home as a renter until you’re ready to buy it back from the company, with a little interest at the end of a pre-determined time period. They say they’ll relieve you of your financial distress and help you save your home from foreclosure while making some profit in the process as a rescuer. You get to live in your own home, improve your credit and buy it back when your situation improves. Sounds like a win-win for all doesn’t it?

The truth is that it is possible to save your home this way if you do get help from an ethical legitimate company. A genuine company will charge a moderate fee or might negotiate for a portion of your home’s equity in exchange, or will include some interest in the buyback price for their role in the rescue. It’s a reasonable trade since the company is using their good credit to get a second mortgage that bails you out of your desperate situation and temporarily holds the deed for you. A person who knocks on your door though and makes such an offer is probably up to no good. You need to seek out a reputed company and do a thorough background check before agreeing to such an offer. You might end being ruined otherwise since its possible to lose your home, your home’s equity and still be liable for your mortgage payments simply because you unwittingly agreed to a fraudulent deal.

So seek out an ethical foreclosure rescue company. There are many resources that will help you find a legitimate outfit. The hallmarks of a fair deal include-

1) Complete written and verbal disclosure. The company will give you copies of all the documents.

2) The contract will specify favorable terms and conditions that you can actually meet.

3) A reasonable pre-determined fee for the rescuer.

You can buy your home back if you do strike a workable deal. Make sure to go through all the documents word by word and get it thoroughly checked out by your lawyer before you sign any contract.

Mortgage Foreclosure Rescue Scams – Documentary Video

admin — Sat, 31 Oct 2009 20:24:59 +0000

Mortgage Foreclosure Rescue Scams – Documentary Video We Stop Foreclosure Rescue Scams (2008) by Kyra Olds This is a documentary about mortgage foreclosure rescue scams that are occurring across the country in light of the growing foreclosures. The movie describes common scam tactics and how distressed homeowners fall for these scams. The movie concludes with what lawyers can do to challenge these scams in court and the Washington State Legislature’s response to try to to stop these scams by …

The ‘Bail Out’ Foreclosure Scam – How To Avoid This Foreclosure Rescue Scam

admin — Thu, 29 Oct 2009 09:34:45 +0000

Have you fallen behind on your monthly mortgage payments despite your best efforts? Perhaps you have even begun to dread the arrival of a foreclosure notice from your bank. If your home is the only asset you have left, you might justifiably be quite tempted by the idea of utilizing any equity you have in your home to lessen your financial distress. It’s a good strategy and the right deal can give you the breathing time you need to fix your finances–only if you don’t get scammed.

If you are facing foreclosure, then the money you’ve piled up in your home’s equity can be a lifesaver. Unfortunately many scam artists are out to strip you of the equity you’ve built up over the years and it’s frighteningly easy for them to do so with a ‘bail out’ offer. An individual or company might approach you with an offer to buy your house and sell it back to you later when your finances improve.

Let’s say your house is worth $550,000 and you’ve got $150,000 worth of equity. You decide to sell it to them for $400,000, which is just about what you owe on your mortgage. This isn’t a true sale in your mind, which is why you decide to sell your home for a song. You believe that it’s only temporary and that you’ll be able to buy it back pretty soon.

The company will take out a $400,000 loan as the first step towards draining your property of its equity. They may give you a little sum of money and get you to sign on to a two-year lease with the opportunity to buy it at the end of the lease period. Your situation goes from bad to worse pretty soon. The company might begin with a low rent figure and increase it steadily to the point where you can’t afford to pay the rent anymore.

You may not be able to meet $1500 a month but you have no choice but to agree to the higher rent. Instead of giving you time to repair your finances you are now worried about defaulting on your rent payments. The company evicts you from the property once you start defaulting on the rent, sells your $550,000 home, pays off the loan and pockets a neat $150,000 all for just a few months of work.

In many cases the homeowner does nothing about the situation simply because they don’t realize they’ve been scammed. It is possible to save your home with this strategy if you do find a legitimate company that is willing to bail you out. Unfortunately most of the foreclosure rescue companies out there are little more than fly-by-night operations set up to steal money from unsuspecting homeowners. You can avoid being a victim of this type of scam in the following ways:

1) Consulting a lawyer on any documents that you are asked to sign. Scammers will typically present you with a ‘quit deed claim’ document that’s written entirely in their favor.

2) Avoiding any home sale contract that doesn’t release you from your liability to pay off your mortgage. It is possible to sell your home and still be liable for the mortgage payments.

3) Being well informed about your rights and the legislation regarding home equity theft passed in your state.