Don’t Fall For Foreclosure Rescue Scams
August 17, 2008
When fighting foreclosure, the last thing you need are scam artists taking away the very home you’ve been struggling to keep. That’s exactly what happened to Gerthy and Lesly Alexandre when they dealt with AFG Financial Group in Garden City, L.I. As the couple was trying to stop foreclosure of their West Brighton Home, AFG presented them with an attractive option: refinance the mortgage and put someone else’s name on the deed. This was supposed to be a temporary measure until the couple could get their financial status in order. Little did they know they had just signed away their own home to another.
Sadly, theirs is not an isolated case. With more foreclosures occurring this year, foreclosure scams are on the rise as well. The stress involved in fighting to keep your home may leave you susceptible to these so-called foreclosure rescue specialists and their quick-fix, cure-all offers. The above strategy of temporarily surrendering your title is just one of many tactics they can use. An even more underhanded one is to provide you with many legal papers, on the pretense that you are signing for a new mortgage. In reality, however, one of the documents will stipulate that you are transferring your deed to their company.
A little forethought goes a long way in this regard. Before even considering getting outside help to stop foreclosure, be sure to first talk with your lender to come up with alternatives, like a workable payment schedule. On the other hand, if you believe you already are a victim of foreclosure fraud, notify your state’s attorney general immediately.
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2 Responses to “Don’t Fall For Foreclosure Rescue Scams”
[...] two valuable lessons. It reinforces the old saying that if something seems too good to be true, it probably is. It also shows the importance of consulting a qualified attorney when the need arises. Scam [...]
[...] have brought out larger numbers of scam artists and that’s why this is a message that deserves repeating. The desperation that overcomes many homeowners when faced with the possibility of foreclosure [...]