How can you identify a foreclosure rescue scam? It’s true. You need help to save your home. Lots of people are offering to help. You see adds on TV, and you are getting letters in the mail. They all say the same thing: Do not file bankruptcy. That is the last thing you want to do. All you want is to save your family’s home. We will do it for you. Just mail us money.
Here is how to recognize the scammers:
1. Beware of anyone who asks you to pay a fee in exchange for a counseling service or modification of a delinquent loan
2. Scam artists target homeowners who are struggling to make payments.
3. Beware of people who pressure you to sign papers immediately
4. Do not sign over your deed to your property to anyone or any organization unless you are working directly with your mortgage company to forgive the mortgage.
5. Same thing goes for signing over a small, fractional interest in you home. Say like 1%.
6. Never make a mortgage payment to anyone other than your mortgage company without the mortgage company’s approval IN WRITING. Make sure you save the written approval.
It is a nasty world out there. There are predators everywhere. In these hard times they want nothing more than to separate you from the money you so desperately need to save your home. You see them advertise on TV. Some are on the radio. Others send postcards and letters to your home. They all promise to save your home from foreclosure, for a fee. Do you know who they are? Do you even care? You want what they are promising. What did your mom say about things that sound too good to be true?
I wish when this whole foreclosure mess started I had kept tract of the number of hard working people who have taken the bait of the foreclosure rescue scam. Often more than a thousand dollars are sent to a stranger out of state. Often they say they are in Florida or California. All you have is an address, a phone number and a lot less money. For a while they take your calls. They promise the world.
They promise and you are drawing closer and closer to a sheriff sale of your home. You wait for the call that will say all is finally well. One day you call and the phone no longer answers. You sent your money in good faith. How cans this happen? You should be rightfully pissed off! These guys are pros, you aren’t. Welcome to the world of the foreclosure rescue scam.
Not only are you out precious money, but also they cost valuable time that could have been used to do things right. What is the right thing to do? Just look locally. What you really need is a chapter 13 bankruptcy attorney. Remember everything the foreclosure rescue scammer promised? You can get that and more by filing a chapter 13 case. These filings are backed by the considerable power of the federal courts. The court talks and your mortgage bank listens.
Victimized by a foreclosure rescue scam? Join the conversation and leave a comment.