Foreclosure Scammers Increasing
As foreclosures are increasing so too are scammers. Smart talking rescue teams promise to save the house and ultimately walk away with the purses of their clients.
As the numbers rise a trend and pattern can be noticed. This has led BBB or Better Business Bureau to give out gloomy warnings that with more foreclosures in the offing more people will lose whatever is left to these vultures preying upon the vulnerable.
It is estimated that about 1.7 million will face foreclosure in the coming years. The victims will be in such a traumatized desperate state when they will clutch at any bit of straw to survive. This is the exact stage set for scammers to play out their part and pick the bones clean.
In the past few months BBB has had reports pouring in about these con men from all the 50 states. States suffering from the highest numbers of foreclosure like Georgia, Colorado and Ohio are registering the most number of scammers posing as foreclosure rescue teams.
The con rescue artists contact the foreclosure victims either directly or attract them with their websites. They make tall promises of contacting the lender and negotiating fresh amicable terms to bring about a stop to the foreclosure process. If they fail to do so they promise to refund the fees they had collected from their clients. Some of the victims have paid even $1,300 hoping for the best. After sometime when they realize that precious time and money has gone it is too late to do anything. Refunds have vanished into thin air together with the artists.
BBB is repeatedly hearing the same story. The scammers are artists par excellence. They dupe their victims into a false sense of security and hypnotize them like what the snake does to a bird. Unfortunately scammers are adding insult to the injury of foreclosure and giving the deathblow to the sick and dying. A lot of money is going down the drain as well as precious time that may well have been utilized to forestall foreclosures.
As a precautionary measure BBC warns people never to trust the personal approach but to directly contact BBC over the web or check with the Attorney General and or the Real Estate Commissioner of the State. Never sign documents without legal advice and above all directly contact the lender without any wastage of time.
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December 8th, 2007 at 9:00 am
I would like to help people get out of foreclosure ,do you know companies that will help . I think it would be a great way to make money and feel good about it. Please call me at 937-313-4801 THANKS!
December 12th, 2008 at 12:55 am
I got in touch with Elect Group out of Florida and paid them one house payment of $1333 for thier help with my foreclosure problem and they did absolutely nothing. When I called and talked to Steve Kirsch, the gentlemen handling my case he told me he did all he could for me and he did nothing. I called him and told him I turned his company over to the BBB in Florida he told me to call the BBB and have the black mark removed and I told him when he refunds my money I would do so but it’s been weeks and I haven’t heard anything from his company and I even faxed him a letter asking for a refunt to no avail. I”m on SSI and don’t have that kind of money to waste and my wife is working for minimum wage and we are both in our 60’s and I was really scammed and want my money back or something done about The Elect Group out of Florida, PLEASE!! Any help you can give me would be greatly appreciated and my wife and I have just been thru a bankruptcy hearing with a chapter 7 and never thought that would happen to me at 62?? I have worked hard all my life on two jobs until I got hurt seriously on the job and had to quit both full time jobs and it’s quite tough making ends meet…Thank goodness my kids are all grown but I’ve always been there to help them and now I would like very much for my Government that I fought for during VietNam to help me in turn….thankyou so much….my phone number is 724-947-1010 if you would like to talk about this…..again, I thank you for any help you may offer——–Ken