If you are facing foreclosure, it is important to watch out for common foreclosure scams. Theses home lending “rescues” can result in serious problems for those already in danger of losing their house. Instead of falling victim to foreclosure scams, homeowners who are facing foreclosure should locate a qualified foreclosure attorney. For a free evaluation of your claim, fill out our no obligation case evaluation form on the right.
The most common types of foreclosure scams include:
- False promises
- Loan flipping
- Identity theft secured loans
- Home improvement hook
In many foreclosure scams, the homeowner doesn’t realize that they signed over the deed to their house. The homeowner believes that they have signed a loan to improve their financial situation, but instead they are evicted and the scammer cashes in on the sale of the home equity.
Many foreclosure scams can be found in public notice lists. Scam artists will advertise their “services” in flyers posted on telephone poles, doorways and mailboxes. The scammer will claim that he or she can pay off the homeowner’s mortgage entirely. However, the scam artist will instead trick the homeowner into transferring the property to them.
Identifying a foreclosure scam may not always be easy. These scam artists have years of experience deceiving those in need. However, there are a few tips that can help you avoid foreclosure scams, including:
- Avoid posted signs that claim to offer foreclosure assistance
- Read the contract thoroughly and watch out for any odd clauses
- Have a foreclosure lawyer review all paperwork before signing
If you have fallen victim to a foreclosure scam or simply need help to avoid foreclosure, fill out our free case evaluation form on the right. Our foreclosure attorneys will thoroughly evaluate your claim to determine whether we can be of assistance. If so, our foreclosure lawyers will take the appropriate steps to try and save your home.