There have been hundreds, no, probably thousands of articles written about the mortgage foreclosure crisis. Sadly though, not nearly enough has been written about the various scams that are out there.
It’s a sad fact that whenever people have problems, face challenges, or experience pain, there are always those roaches coming out of the woodwork to take advantage of their plight.
And so it is with the foreclosure crisis. While the government has tried to help, the myriad of laws passed since the foreclosure wave started about ten or twelve years ago, has made the whole area a virtual feeding frenzy for crooks, con artists and swindlers.
Here are some things to remember:
1. You do not need any of these so-called “mortgage rescue” scams. None of these people have the proverbial “silver bullet” to make your mortgage go away.
2. A lot of the advice you will find is just plain wrong. For example as nice as it might be to believe, it is highly unlikely that the indebtedness on your home is going to magically disappear because of some minor technicality.
3. If a pitch sounds too good to be true, it probably is.
4. You do not need to pay anyone to get information about government programs such as loan modification. All of this information is available at no cot from numerous government websites.
5. There is never – absolutely NEVER any reason to do business with any company that offers to save your home by having you deed it to an “investor” or “trust”. You can bet with near 100% certainty that any proposal like this is a scam. Don’t fall for it.
All you need to do is google “foreclosure scam arrest” and you will see dozens of cases where scammers have been prosecuted, but sadly, not before taking millions of dollars from people ready to anything to save their homes.
Do not jump at any “easy” solution. There are none. Take time to research all the options. Research the foreclosure laws in your state carefully so you will have an idea of what you can and cannot do.
Finally, if you are considering any kind of foreclosure help at all, contact us at Be Your Own Lawyer. Our free case assessment will always include a review of any programs you are considering. Your case won’t be our first rodeo in the foreclosure arena and without charging you a dime we can at least warn you about scams and get you pointed in the right direction.