Foreclosure Scams are on the rise all over the country:
With the recent rise in foreclosures, foreclosure-related scams have exploded onto the real estate scene. These so-called foreclosure rescue companies: claim they will help save your home, but in reality their only objective is to make a profit -- at your expense.
Red Flags for Foreclosure Rescue Scams
If you are at risk of or in foreclosure, you should be on the lookout for foreclosure scams. Here are some of the red flags to watch out for:
Asks for money upfront before providing any service
Instructs you not to contact your lender, lawyer, housing
counselor, family, friends, or others
Asks for mortgage payments to be made directly to his or her
company or a bank account set up by that person, rather than your lender.
Requires payment only in the form of cash, cashier’s check,
or wire transfer
Promises to stop the foreclosure process, no matter the circumstances
Advises you to transfer your property deed or title to his or
her company
Offers to fill out paperwork for you
Asks for something to be done immediately and without delay.
This includes pressuring you into signing paperwork that you have not had the chance to read thoroughly or do not fully understand
Encourages you to lease your house and buy it back over time
Offers to buy your house for a fixed price that is not set by the
housing market at the time of sale
Asks for you to give a power of attorney
Asks for signatures on a grant deed or deed of trust
Asks for signatures on a document that has lines left blank
Fails to provide copies of signed documents
Refuses or fails to put an oral promise in writing
Please fell free to download the following PDF files for your perusal:
According to estimates, as many as 1.7 million homeowners could lose their homes to foreclosure in the next couple years, said Steve Cox, spokesperson for the BBB "Better Business Bureau":
These people will be in the desperate position of trying to save their homes and they’ll look for someone to trust. Unfortunately, "Foreclosure Con Artists" are seeing their chance to step in and make a fast buck off of troubled homeowners from Palm Springs to Pittsburgh.
Fortunately the California Legislature has found that homeowners whose residences are in foreclosure are subject to fraud, deception, harassment, and unfair dealing by foreclosure consultants.
Therefore the legislature has passed law to protect distressed homeowners against such scarniving foreclosure scam artists.
Short Sale Center thought it would be helpful to include a copy of the California Civil Code, for all our existing as well as prospective clients benefit.
We encourage you to click on any of the respective links under this section to familiarize your self with the facts.
We have programs to help stop foreclosure regardless of your situation:
With the right help, virtually any foreclosure situation can be successfully resolved. We have helped thousands of homeowners and we can help you too. When facing foreclosure Time is of the Essence. You MUST act fast to protect your rights and stop foreclosure. Many people who need foreclosure assistance simply do nothing and hope for a miracle. Don't fall into that trap!
