Foreclosure Scammers Licking Chops – Beware!
Thursday, September 27th, 2007In the raw the jackals and vultures move in when the big predators have had their fill. It seems to be the same today in human society – and that too in America. Victims facing foreclosures are in a traumatized state – ready to clutch at any straw of hope. They cannot think rationally and calmly. This is the ideal scene for the scammers to enter the stage and pick the bones. With foreclosures on the rise it is a party out there for those who have a taste for rotten carcass. The foreclosure scammers are gorging and belching. Beware!
The wolf in sheep’s clothing comes knocking with sweet words of help. They promise the sky. But instead of succour the foreclosure victims find themselves not only without their foreclosed homes but also with slimmer purses – notes and coins they could have ill afforded to have lost during this severe weather.
Reports about sham rescue schemes from about all the 50 states have been pouring it – reports BBB. The number of foreclosure scams complaints rises in proportion to the number of foreclosures. Thus the maximum number is reported in the worst affected places like Georgia, Colorado and Ohio.
The line of action follows the route of email and posting of printed offers. It seems to be the same story repeated everywhere. There are even eye-catching web sites to trap the unwary. Treat personal approach with extreme caution. Usually hand written notes are pushed inside mailboxes overflowing with messages of concern for the foreclosure victim’s plight. No documents should be signed that writes away the title deed. Get the documents scrutinized by someone who knows and can be trusted – preferably a legal advisor. The helpers offer to negotiate satisfactory terms to stop foreclosures. The assurance is that if the process fails then the fees will be refunded. Some have been desperate enough to pay $1,300. Neither was action taken nor was the money returned – only precious time was lost.
The general advice to mortgage victims, from all responsible quarters, is to contact BBB – which is available on the web. A reliability-report is available for free. It is also relevant to remember that those who offer help should have a license from the state’s Department of Finance. A license from Real Estate Commission is required for those trading in property. The bottom line however is – contact the lender directly and immediately.
