Beware Of Forclosure Rescue Scams

People Facing Foreclosure Are Being Victimized

(CBS)  President Obama has promised to help people in danger of losing their homes. But some of those same people could lose their homes another way, by falling victim to scam artists.

As home foreclosures multiply, so, too, do the number of victims being taken in by foreclosure rescue scams in states such as Florida, California and Illinois, CBS News correspondent Cynthia Bowers reports.

"We've gotten thousands of complaints on these types of scams," said Illinois attorney general Lisa Madigan.

Madigan says scam artists are able to zero in on their victims because foreclosure filings are public information.

"They show up at your home, and they give you the hope that you're going to be able to stay in your home," Madigan explained.

That's exactly what happened to Bernice Holcomb when her condominium went into foreclosure.

"So, when this guy showed up at your door with this contract, you really, in your heart of hearts, believed he was going to save you?" Bowers asked.

"I sure did. He told me that everything would be taken care of, that they do this all the time. They work with mortgage companies and they get you all straightened out," Holcomb said.

Bernice says she signed a contract with a company named Foreclosure Solutions. She initially gave them $695 and later paid them another $1400 which they said they'd forward to her lender.

"The things he was telling me was just what I needed at that particular time," Holcomb said.

Holcomb says she believed her mortgage problem was being addressed. So imagine her shock when she found out her home was just days away from being auctioned off.

"I was really, really upset. I cried. Yes, I did," Holcomb said.

Madigan has filed a lawsuit against Foreclosure Solutions, charging that they did not contact consumers' lenders immediately as promised and that instead of forwarding the mortgage payments, they kept the money.

"What these folks are usually doing is taking money up front, then taking your mortgage payments, never contacting your lender, and so you think you're saving your home, but all you're doing is being ripped off," Madigan said.

To avoid foreclosure scams, experts say be aware of these red flags. A promise that your home can be saved. A demand for an up-front fee and a request that the mortgage payment be sent to the rescue company, not the lender.

Holcomb lost $2,000 and had to file for bankruptcy in order to save her home. She says all she feels for the people who scammed her is pity.

"That's a terrible way to make a living, scamming people and taking from the people that's worse off than you," Holcomb said.

[CraigBerkeley]

The Mortgage Fraudsters certainly do not deserve a bail-out! Incredible deals in foreclosures for investors? I don't think so. There's blood on the abks hands from their three million illegal foreclosures and counting!!

Is Your Lender A Patriot Or Terrorist?
http://reno.broowaha.com/article.php?id=3462

Beware Of Fraudulent Foreclosure Notices
http://reno.broowaha.com/article.php?id=3825

Many of these Notices of Default are not real, they are fraudulent and they are just another way to steal houses. Then the fraudster ?sells? the stolen house under a fraudulent Trustee?s Deed.

Rachel And Her Children: Homeless Families In America @ http://reno.broowaha.com/article.php?id=3206

The illegal three million foreclosures have also added to the homeless despair.

illegal Is Your Lender A Patriot Or Terrorist?
http://reno.broowaha.com/article.php?id=3462

Just Do The Required Home Loan Modification
http://reno.broowaha.com/article.php?id=4070

Beware Of Fraudulent Foreclosure Notices. Many of these Notices of Default are not real, they are fraudulent and they are just another way to steal houses. Then the fraudster ?sells? the stolen house under a fraudulent Trustee?s Deed. http://reno.broowaha.com/article.php?id=3825

Reno, Nevada?s Countrywide Home Loans manager Sue Barry should also be charged with Mortgage Fraud, along with Prudential Nevada Realty former Regional Manager Valerie Mapes, former Prudential Nevada Realty Realtor Keith W. Gledhill, Mortgage Fraudster Reno landlords John and Kay Sickler, Mortgage Fraudster Reno escrow officer Jenna Kay Clark and her company Reno?s First American Title, Reno Realtor Allan Zane and his Broker Magi Bird, and Reno?s First American Title.
http://reno.broowaha.com/article.php?id=3415
http://reno.broowaha.com/article.php?id=3300
http://reno.broowaha.com/article.php?id=3320
http://reno.broowaha.com/article.php?id=3351
http://reno.broowaha.com/article.php?id=3372
http://reno.broowaha.com/article.php?id=3377
http://reno.broowaha.com/article.php?id=3397
http://reno.broowaha.com/article.php?id=3404
http://reno.broowaha.com/article.php?id=3421
http://reno.broowaha.com/article.php?id=3430
http://reno.broowaha.com/article.php?id=3448

For copies of the supporting documents that have been uploaded, see http://renomortgagefraudexposes.ning.com/

[saprkchaser9]

All the talk these days is about how the poor homeowners losing their homes can be rescued, obstensibly with everyone else's money. Has anyone stopped to think about what got these people in their predicament in the first place? Of course not. It wouldn't be politiclly correct to actually point out the responsible party here, but I am anything but politically correct, so allow me to do it for everyone.

To be sure, the mortgage companies are not free of blame here, but what about the homeowners? How many of them who are facing foreclosure NOW engaged in "creative lending" THEN to get into the home in the first place? How many people mortgaged their lives away to get financing for a house that is too big for their needs and their wallet? What in the world does a family of three need with a five bedroom, 3 bathroom home? THEY DON'T!! But they HAD to have it because it was in the BEST neighborhood, etc, etc, etc. PLEASE! Now they can't afford it, and they want help. Sorry, folks, not with my money. And don't cry to me about dropping home values either. If a $200,000 home is now appraising for less than $100,000, IT WAS OVERPRICED IN THE FIRST PLACE!

I bet everyone's credit cards are paid up, though. Prioritize a little bit, folks.