It Yourself Legal Forms
Home Sale Software
Get help preparing legal forms.
Selling Your Home Alone
Do It Yourself Bankruptcy Software
Are you a homeowner who is facing possible foreclosure?
If you are, you could literally be completely desperate. You
may be willing to try anything
to save your home. Of course, you are urged to do anything
(legal) that you can, but it is important to not let desperation get in
the way of common sense.
Homeowners who do often find themselves the victims of a foreclosure
When it comes to foreclosure scams, the best way to protect yourself is
to know what to look for. Although foreclosure scams come in
a number of different formats, many are easy to spot. One
rule of thumb is the old adage: If it sounds too good to be
true, it probably is.
Let's look at a few possible foreclosure scams you might encounter.
Realize, however, that these are only representative, and
crooks not only rework the old reliables but invent new ones as well.
"We're Here to Help You!"
One type of scam that you will be on the lookout for is when an
individual or a company approaches you offering to help. When
doing so, they often will offer to provide you a loan. The
only problem with this is that a "loan" is not what you may be
The documents which you eventually sign may actually turn over
ownership to the
individual or company in question.
However, what often happens is that you end up
agreeing to rent your property back at a very high rate. If
cannot afford to make those payments, you will be evicted from the home
that you no longer own.
Another common foreclosure scam involves having an individual or
coming to your rescue. They do not offer a loan, but will
offer to negotiate with your
lender for you. During this period, you will be asked to pay
individual or company in question, which may be referred to as a
rescuer. The only problem with this is that the
individual or company hasn't been in contact with your mortgage lender
What they are doing instead is pocketing your money and you will
probably still end up
Arm..But NOT Of The Law"
Similar to the foreclosure scam outlined above is one that involves
strong-arming your home from you. In this form, the
individual or company in question isn’t necessarily after
your money, but is more interested in the property itself.
They will instruct you
not to contact anyone for help, aside from them. You are
instructed not to speak with a lawyer, not to talk to or make payments
to your mortgage company, and so forth. Right before the
foreclosure proceedings start, the scammer will then take every step
possible to get your home..and they are good at it.
A Crook is a
Crook is a Crook
One mistake that you will not want to make concerning foreclosure
scams is believing that the individual standng in front of you,
offereing to save your home, is
different. Desperation and despair can cloud one’s
judgment. If you are presented with a contract or legal
document to sign, do not
do so until you can have it reviewed by an
Be sure to choose your own attorney!
not rely on the advice of an attorney suggested to you, as they may be
in on the scam, even if they are a real attorney!
Thes three foreclosure scams are just a few that you may
run into, but they do have the potential to cause the most damage and
the most heartbreak. The good news is you now know what to
look for. This means you can avoid falling victim to these
types of scams. As a word to the wise, never agree to do
business with someone who approaches you. A reputable lawyer
or advisor will wait for you to come to them. No one
who comes knocking on your doorstep is likely to have your best
interests at heart.
Foreclosure scams are out there. Typically, the
only way for you to legally avoid foreclosure to speak with an attorney
or to make arrangements with your financial lender.
Sale by Owner (FSBO) Software