Scams abound in foreclosure market
Americans have been hammered with news about the foreclosure crisis in the United States. It seems like every day there is another news report or newspaper article about mortgages in trouble and the number of bankruptcies cropping up across the country. It may have happened to your neighbor or a co-worker. In fact, you may be facing these issues yourself. Georgia is among the states hardest hit by this crisis. When your income gets tight and the financial challenges continue to mount, what do you do?
That desperation has led to a huge market for scam artists looking to cash in on your problems as a homeowner. In one case, two men were charged in federal court with offering home loan modification services while collecting fees upfront. The men never provided the services and claimed that they would assist homeowners with mortgage negotiations. That assistance never happened.
Scams involving foreclosure fraud have become increasingly difficult for regulators and government officials to tackle. However, contacting a licensed and experienced attorney to help you with your foreclosure issues will help you avoid getting involved in a scam.
As we approach a new year, foreclosures and financial problems may continue for some people. When that happens, an experienced attorney may be the best bet to protect your rights as a homeowner while presenting you with all of the options to help you plan your next steps. Unfortunately, these scams abound because people are hoping to take advantage of other’s desperation. Know, however, that there are legitimate and legal ways to potentially avoid foreclosure or delay it.
Chicago Tribune, “Efforts Continue to Fight Foreclosure Rescue Scams,” Mary Ellen Podmolik, Dec. 6, 2013