Foreclosure Help Scammers | Foreclosure Help

Welcome to Foreclosure Help Scams! We assist the homeowners facing possible foreclosure or even looking to just refinance with up to date news, education, and allowing you to search for reputable lenders in your area. These scams have become big business for crooks lately. Be sure to read through our informative articles and website – Written by Lenders you can Trust!

How to Recognize a Foreclosure Assistance Scam

Foreclosure assistance scams. Not a new problem and certainly not unexpected, given the amount of people facing foreclosure these days. Anytime there is a large group of people in financial distress, along comes a proverbial Robin Hood, who is actually just the Sheriff Nottingham in disguise. He is not your friend, he is not there to help you, he figures that you made your fiscal bed and now he wants to lie in it, at least long enough to grab your money and run.

When economic stresses have lead to considering foreclosure, already distraught people find themselves facing a terrifying prospect – losing their home. There is often nowhere left to turn for these people, and that is when the foreclosure scammers strike.

Like a wolf hunting their prey, these lowly persons hunt down foreclosure listings, seeking out the weakest amongst the pack and sniffing around long enough to know how to make the kill. Foreclosure listings are public record. Real Estate sites list foreclosures in their area online. Property information is easily obtained. Armed with this information, the scammer begins the scam.

How Do Foreclosure Scammers Make Their Approach?

There are several different ways that a foreclosure scammer can approach a foreclosure-listed property owner. They could attempt to make a broad search for possible victims by using ads in the newspaper “Stop Foreclosure Now!” or with television ads promising to stop foreclosure.

For the brazen foreclosure scammer that has done his own research and is looking for a more targeted approach with a set of particular would-be victims, using public records of filed foreclosures provides all the information necessary for a personalized letter that is sent right to the property.

Why Do They Get Away With It?

Simply put, because people want to believe in miracles. This is about finding hope in a seemingly hopeless situation. Foreclosure scammers prey on these desperate people and families because of the inert hope that “something will happen” to allow them to keep their home. Sometimes it’s this belief that gets them through the day.

The foreclosure scammers use this to their advantage, working the angle of the informed and connected concerned citizen. Here’s some of the specific ways that they will approach a soon-to-be victim with their foreclosure scam tactic:

They Promise Loan Negotiation

Sometimes, foreclosure scammers will promise their victims that they are well-connected with the mortgage finance community. They know that guy who know the guy who holds your loan, and they know how to get him to:

1. Negotiate a lower payoff for your loan and rescind the foreclosure.
2. OR He will deal with the attorney and the lender to save your home.

The giveaway for this scam? The scammer will tell you NOT to contact your attorney, or your lender or your credit counselor whilst he is performing his miracle-level negotiations. You could also be asked to pay a flat fee, up front, for the “service”. Do not involve yourself with anyone, financially or professionally, during your foreclosure proceedings without speaking to your advisors first. They can help you weed out the louses.

They Promise to Provide You a New Loan

Maybe the foreclosure scammer approached your with a story about being a lender themselves that can provide you a brand-new, crystal-clean loan for your mortgage.

The giveaway for this scam? Same direction not to contact your existing network of involved parties while you sign an agreement drawn up by the scammer that could give them title to your home in exchange for their services to “rescue” your property.

They Will Stop the Foreclosure for You

For a fee, of course, the foreclosure scammer promises to negotiate with your lender to stop the foreclosure process. To stop the foreclosure process, at least temporarily, they foreclosure scammer will take your personal information and file a bankruptcy petition in your name, possibly without your knowledge. Not only could you lose your money and still lose your home, you could have a bankruptcy following you for the next ten years.

The giveaway for this scam? The upfront fee is easy to spot. They will also want personal information like Social Security and employment information. Ask how they intend to stop the proceedings, there’s a good chance they’ll run around the answer.

ForeclosureHelpScams.com understands the difficult time that anyone who has listed their property as a foreclosure is going through. We want to help save your property by providing government agency and Better Business Bureau certified lenders to assist you with your lending needs.

It’s easy to see that it is in your best personal and financial interest to use a service that verifies the validity of your lender.

Take the time to be sure that your loan option isn’t a foreclosure assistance scam waiting to happen. Use our Verification System!