Foreclosure Rescue Scams

South Florida Sun-Sentinel.com
How to avoid fraud
November 23, 2008

How to avoid rescue schemes Foreclosure rescue fraud preys on struggling homeowners who don't know where to turn for help. The best way to avoid becoming a victim is to seek information and ask a lot of questions. If you receive an offer that sounds too good to be true, then it probably is. Here are some tips to avoid getting ripped off: Read and understand all paperwork before signing to ensure you are not giving someone else ownership of your home.Never make mortgage payments to anyone other than your lender or mortgage servicer.Beware of anyone who says you don't need a real estate professional, attorney or title company when selling your home. Be very suspicious if someone offers to pay your mortgage and rent your home back to you. This scheme often involves signing over the deed to your home. Selling your home back to you may be very difficult, if not impossible, under the terms of the contract. Before responding to any person or agency offering to "save" you from foreclosure, check that the organization is approved by the U.S. Department of Housing and Urban Development at www.hud.gov/counseling or 800-569-4287.