| There is no doubt that more and more people have | | | | the rent while the bank proceeds with foreclosure. You |
| been forced into financial difficulties by the collapse of | | | | have lost your home, and will remain liable for the |
| the US housing market, and are now being faced with | | | | unpaid mortgage, because transferring the deed did |
| home foreclosure. And with the rising number of | | | | nothing to transfer your mortgage obligation. You are |
| requests for foreclosure assistance, there has been | | | | out not only whatever you paid the scammers, but |
| an accompanying increase in the number of | | | | your home as well. |
| foreclosure assistance scams. To make matters | | | | Fake Counseling Services |
| worse, those responsible for the scams not only walk | | | | Then there are the fake foreclosure assistance |
| away with their victim's cash, they often walk away | | | | counseling services. They tell you that for a minimal |
| with the titles to their homes too. | | | | fee you will be able to have their experts negotiate |
| Even if you have received a foreclosure notice, you | | | | with your mortgage holders to get the foreclosure |
| should not panic and reach for the first offer of | | | | assistance you need They promise to relive you of |
| foreclosure assistance. You need to learn how to | | | | the burden of having to deal with your mortgagor on |
| recognize the tricks which foreclosure assistance | | | | your own, saying that their expertise in such matters |
| crooks use to swindle those in your situation. | | | | will enable then to get you the best possible deal. |
| The Equity Skimming Scam | | | | But more often than not, the only methods of |
| The stress of being in financial difficulty can very easily | | | | foreclosure assistance they are capable of offering |
| cloud you judgment, and this is especially true if you | | | | are those you could practice on your own, at no cost. |
| are confronted with the looming loss of your home. | | | | The best they can do, if they even do that much, is |
| One of the scams perpetrated by fake foreclosure | | | | get you a short-term grace period of lower monthly |
| assistance companies is Equity Skimming. | | | | payments while you look for alternative sources of |
| In the Equity Skimming scam, an unsolicited offer is | | | | money to pay off your mortgage default. For more |
| made to find a buyer for your home so that you can | | | | info see on foreclosure assistance. |
| clear up your debt s, and the individual making it | | | | Do not accept any offers of foreclosure assistance |
| requires you to sign your home over so that you will | | | | which are not spelled out in writing. And do not agree |
| no longer be facing foreclosure, with a promise that | | | | to any agreement without first having it reviewed by |
| you will be paid some of the profit when they sell the | | | | an attorney familiar with foreclosure. Finally, if you |
| home. | | | | suspect you have been targeted by a foreclosure |
| But once you have transferred title to your home, the | | | | assistance scam, contact the Consumer Fraud Unit of |
| scammer will simply rent it out for a while, pocketing | | | | your District Attorney's office without delay. |