Beware Foreclosure Scams
Like many scams out there, foreclosure scams rely on the desperation and hopelessness of their prey. If you’re facing foreclosure, here are signs to be wary of. Avoid organizations that:
l Contact you instead of you contacting them.
l Advise you against getting in touch with your lender or an attorney, telling you that these entities don’t have your best interests at heart.
l Play upon your ethnicity, religious affiliation or age, saying they “specialize” in that area.
l Require that you sign a “Quit Claim Deed” or other document that transfers the ownership of your home to them.
I have numerous complaints against them with the Better Business Bureau or Internet watchdog sites.
l Require an up-front payment without any contract or guarantee of success in halting foreclosure.
l Don’t put their promises in writing.
Bottom line: CONTACT YOUR LENDER. They want to help you. They don’t want you to lose your house, no matter what these scammers tell you.