| It's a sad but too often true fact that when people find | | | | You have done nothing to eliminate your responsibility |
| themselves in difficult financial circumstances and are | | | | to pay back the mortgage, even though the scammer |
| facing foreclosure on their homes, they also face being | | | | now has your home, and now the lender does not |
| swindled by unscrupulous individuals. To add insult to | | | | even have the home to sell to get its money back. |
| injury, many of these dishonest persons are so skilled | | | | Any kind of foreclosure assistance which requires you |
| at running their scams that they end up not only with a | | | | to relinquish title to your home is simply unacceptable. |
| homeowner's money, but with his or her home as well. | | | | Don't Pay For What Should Be Free |
| And as the number of US homes going into | | | | You may have thought of turning to a foreclosure |
| foreclosure has risen, so has the number of | | | | assistance counselor, based on advertising which |
| foreclosure scams. | | | | indicates such agencies will work on your behalf with |
| The best way you have of protecting yourself from | | | | your mortgage holder and get you the foreclosure |
| foreclosure assistance fraud is to learn exactly how | | | | assistance you need to stay in your home. They will, |
| these fraudsters work when they offer to aid you. If | | | | of course, require you to pay them in advance for their |
| you are prepared in advance, you will greatly improve | | | | efforts. |
| your chances of joining their lists of victims. | | | | What they fail to tell you, however, is that the services |
| Equity Skimming | | | | they can provide are often things you could do without |
| Being short of money can be a very scary situation | | | | having to pay anyone; the most common foreclosure |
| for anyone, and even more so if your financial shortfall | | | | assistance they provide is to get you lender to agree |
| has caused you to become delinquent on your | | | | to a short-term lowering of or hiatus in your monthly |
| mortgage payments. Foreclosure assistance | | | | payments until your financial situation improves. And |
| scammers have developed a strategy called "equity | | | | you should already have been talking with your lender |
| skimming" in which they will offer to purchase your | | | | personally to try to reach such an agreement as soon |
| home so that you can pay off your mortgage and | | | | as you knew you were in danger of falling behind in |
| save your credit rating. | | | | your mortgage. |
| The scammers, however, will require you to let them | | | | Always do what you can to get foreclosure |
| take title to your property and promise you a portion | | | | assistance for yourself, and get any arrangements |
| of the sales proceeds. But once you have transferred | | | | you make spelled out in writing, to be reviewed by an |
| the title to your property, they will use it as a rental to | | | | attorney. Finally, check with your county's District |
| generate some easy income; in the meantime, the | | | | Attorney's Consumer Fraud department when you are |
| bank or lender will institute foreclosure proceedings. | | | | considering an offer of foreclosure assistance. |