Know how to combat mortgage foreclosure rescue scam


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by Arthur Adams

Almost all individual in the U.S. obtain mortgage while purchasing a new house, but in the recent economic turmoil they are not being able to make their monthly mortgage <> payments on time. So because of being delinquent in paying the mortgage loan they are becoming the victim of foreclosure on their house.

However, there are many companies and housing counselors who can help you to save your house from being foreclosed. But in recent times you need to be careful while choosing such company or a counselor since there is huge number of predators or scam artists in the market. They approach you under the pretense of offering help and ultimately do nothing. Instead they take away your money, equity in your home and sometimes even home itself as a mortgage foreclosure rescue scam. So if you really need help for foreclosure proceeding, follow some steps to protect yourself from a rescue scam.

A few simple steps to follow:

  • Do not respond to  any phone calls or flyers that offer you help with your foreclosure.  Remember, unsolicited help means someone is trying to take advantage  of your financial distress. You must not answer to the call if anyone  guarantees you to save your home from foreclosure when he does not know  anything about your financial background. If you are really seeking  help to protect your abode from foreclosure then contact <> or  local office of the U.S. Department of Housing and Urban Development  in order to find out a reputable and legitimate housing counselor.

  • Do not sign on any  papers unless you read through them and understand all the points mentioned.  Be careful while signing in on because there are many counselors who  play a trick and make you sign on the deal that transfer the ownership  of your house to them. Consult a lawyer or a good friend if you cannot  understand any point. You can also approach the housing counselor if  you need any sort of clarification. Avoid a counselor who dumps up a  stack of papers before you and hurries you to sign up the agreement  without letting you reviewing the papers.

  • Do not leave your  house unless and until your lawyer confirms you a sale of your house  and satisfaction of your mortgage, no matter what is promised to you  by the housing counselor. Housing counselors may promise you to renovate  your house and make you leave the house so that they can sell it off  and make profit. Then they will disappear with the sale proceed and  you will still remain with the responsibility of paying the mortgage.  So do not fall for any promises made by housing counselors.

  • Before signing up  any agreement or making any payment check with your state’s attorney  general or your local Better Business Bureau in order to ensure that  you are hiring the services of a reputable counselor.

Thus, if you bear the above mentioned steps in mind while looking for a help with foreclosure, you will be able to protect yourself from a mortgage foreclosure rescue scam.

4 Responses

  1. Question for the smart people out there—the OCC lists 24 servicers as to which claims can be raised. I have attempted to obtain a copy of the “claim” form from the OCC via the phone so I can see what is required etc—to get the ball rolling—-they REFUSED to send it to me because I was not a victim of a named claimee. OUCH! This is who is going to administer this? This denial was today.

    I am an attorney and am working with a crew of OWLs to help the victims–and OCC is already blocking me.

    I do not understand why there are 24 on the list–but only 14 consented–and the non-consents were handled in our cases by LPS/DOCX and MERS of course—–they consented or confessed howver you want to look at it–but OCC is blocking ability to get the form much less take claims on non-consents

  2. Yep. We got taken five times. That makes us seem kinda stupid. One of these character lawyers is the brother of a top-ranking official in Los Angeles County. Who can you trust nowadays?? It’s pathetic.

    I guess they count on people not suing them since people are so busy packing and moving and trying to find a place to live and make a living, plus having to file court papers, deal with health issues, school, and all that. What a nightmare! And you sit and think to yourself…(because you can’t afford to join a mass joinder)… “Imagine if I had all those funds back. I could hire myself a GOOD lawyer.”

  3. Would you know any good lawyer that handle mortgage Problems up state NY

  4. […] Read the article: Know how to combat mortgage foreclosure rescue scam […]

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