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Housing Crisis

Foreclosure Scams

Posted by Cathy Faulcon Bowen on 08/11 at 10:22 AM

“Kick them while they are down” may be the motto for scammers who try to profit from homeowners’ misfortune when a foreclosure is starring them in the face.

Anyone about to lose their most valuable material possession, a home, MIGHT do anything to keep it. If an advertisement for keeping your home out of foreclosure sounds too good to be true, it probably is. 

Two signs that a company is trying to fatten their purse while making yours leaner are: (1) They ask you to pay a fee BEFORE any work is done and (2) They guarantee that they can stop the foreclosure.

When should you walk away from a potentially dangerous situation? Listen to stories of real people who avoided scammers and learn more about foreclosure rescue scams on Money Matters.