Foreclosure Rescue Scams

28 Jul Deeds in Lieu of Foreclosure: Problems and Pitfalls

With foreclosures skyrocketing, many people are looking for ways out of their mortgages. Deeds in lieu of foreclosure are often used to avoid foreclosure. They do avoid foreclosure. But do they really benefit you, the homeowner? In many cases, they can leave you and your credit worse off than filing for bankruptcy. Here's the inside scoop on Deeds in Lieu of Foreclosure.
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29 Apr Florida Attorney General Sues “Foreclosure Consulting Service”

As the whole world knows, Lee County, Florida is leading the nation in foreclosures. The cities in Lee County that are experiencing the highest foreclosure rate are Cape Coral and Lehigh Acres. According to the latest statistics, something like 1 in 86 homes in Lee County are in the foreclosure process, and not much is being done to fix the leak in the dam. Of course, with every crisis, there will be scam artists who will try to make money from the less fortunate, and there will be those that try to stop the scam artists. The Florida Attorney General, Bill McCollum, recently filed a lawsuit against a business in Clearwater, Florida for the use of unfair and deceptive practices against the public. The company named Law & Associates, LLC was sending out direct mail solicitations to Floridians who were going through the foreclosure process. The company offered foreclosure consulting services, but charged a large up front fee for those services, never followed through on the services, and failed to return monies despite a money back guarantee.
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18 Feb Law And Order On Mortgage Assistance Scams

February 06, 2008 episode of Law and Order was "snatched from the headlines" and this episode started with a murder that was linked to a mortgage scam.

The mortgage scam seen in this episode is a common one. A person contacts a homeowner in trouble with their mortgage, under the premise that they can help the homeowner "save their home." The homeowner quitclaims their deed to their home to the person, with promises that once the homeowner gets back on their feet they can get the house back.

Instead of helping protect the home, the buyer got a house for much less than the true value of the house and he turned around and sold the home for a quick profit and the family lost their home without realizing that they just gave away their home forever.

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05 Jan Will A Foreclosure Mediator Be Able To Stop Your Foreclosure?

It depends. Sometimes, the mortgage company is willing to work with a homeowner going into foreclosure. The costs of a foreclosure to the mortgage company are high--whether it is a judicial foreclosure (needing a court to order the foreclosure to happen) or a non-judicial foreclosure (no court is involved), the costs of publicizing the sale, appointing a trustee, having the sheriff evict the residents--all those costs eat into the profits. The mortgage company may have a surplus of inventory to deal with (lots of houses already foreclosed upon). Sometimes the homeowner/borrower can speak directly with the mortgage company and sometimes it is impossible to get anyone at the mortgage company to talk to the borrower. If the mortgage company has already retained a foreclosing attorney, it becomes more difficult to get the foreclosure stopped. So, what is a person to do?
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