Fraudulent or Predatory Mortgage Rescue Scams

Homeowners who are facing foreclosure may become perfect targets for predatory mortgage rescue scams.  These rescue scams will often seek out homeowners who are facing financial struggles and trying to save their homes from foreclosure. Often these scams cost the homeowner money and provide no results. There are lots of homeowners who are desperate to stay in their homes and save them from foreclosure.  Many times these desperate homeowners who are targeted by mortgage rescue scams and end up paying a lot of money to companies and/or individuals who make baseless promises to keep them in their homes and help them avoid foreclosure.

There are many things to be aware of if you are contacted by any company or individual offering help with your mortgage/foreclosure situation or any type of mortgage rescue program.  One red flag is if they guarantee to stop the foreclosure process.  Being able to stop the foreclosure process generally takes time and approval of the lender. It cannot be guaranteed by a third party.  Also, please be cautious of any program that requires you pay up front fees and asks for transfer of title to the property. Title to the property normally is only transferred at the time of a sale, whether that sale by a short sale or a foreclosure sale.  Also, you should never make your mortgage payments to anyone but your lender without having the lender’s approval to do so.

If you or anyone you know if facing foreclosure, please contact me. It may be possible for me to negotiate a short sale with your lender.  With my extensive expertise I will walk you through the short sale process with ease.

 

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