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Avoid Foreclosure Scams
Avoid The Scam Artists
It's an unfortunate fact that scam artists often prey upon individuals who are going through emotional and/or financial distress. The Foreclosure Process for many homeowners can translate to both of these. As the economic recession continues to affect consumers across the country, foreclosure and bankruptcy have become more commonplace than many of us care to admit. Consequently, fraudulent schemes committed by scam artists are just as equally on the rise.
Guide To Assist You In Avoiding Scam Artist Practices:
- • Someone guarantees to stop the foreclosure process - no matter what your circumstances
- • Someone encourages you to sell your home to them so that you can lease it back from them and eventually buy it back over time
- • Someone tells you to transfer your property deed or title to them to avoid foreclosure
- • Someone tells you to make your mortgage payments directly to them, rather than to your lender, even if they claim they will hold the funds for you
- • Someone advises you not to contact your lender or lawyer
- • Someone pressures you to sign documents that you have not had a chance to review or show to your attorney or adviser
- • Someone pressures you to sign documents that you do not completely understand
- • Someone asks you to sign a transfer of deed or title to them that they will hold "just in case"
If you believe that you have been the victim of a scam artist or you are suspicious of someone employing the above practices, you should contact the State Attorney General to report such activities.