Thursday, July 16, 2009
Foreclosure Rescue Scams
Many of us are facing tough times right now, even responsible people with good credit are having trouble paying their mortgage due to the loss of a job, hours being cut or a number of reasons a mortgage is just no longer affordable. Some people are even faced with the tough decision to foreclose and believe it’s their only way out.
There are many programs out there that can help you before you make this decision, so first and foremost, be sure to educate yourself before you do anything. Many lenders have programs in place, so it’s wise to check with them first.
While many home owners are looking for a way to save their home and might be open to some elaborate suggestions, there are scammers out there looking to prey on the vulnerable and have created the so called foreclosure rescue plans. They have been known to go as far as showing up at your front door, wearing suits and ties, offering to help you save your home. They may deceive you into sending them your mortgage payments and then end up taking over your home, so watch out!
“If you think you may be facing foreclosure, the Federal Trade Commission (FTC), the nation’s consumer protection agency, wants you to know how to recognize a foreclosure rescue scam. And even if the foreclosure process has already begun, the FTC and its law enforcement partners want you to know that legitimate options are available to help you save your home.”
Read more at: