Foreclosure Victims: It Could Get Worse

6 June 2008

Author: admin Posted under Stop foreclosure

Losing your home to foreclosure is perhaps one of the worst things that could happen to you and your family. Sadly, these unfortunate individuals are also becoming targets of scam artists who are preying on their vulnerability and desperation.

In Vallejo California, scam artists are reportedly knocking on distressed homeowners’ doors and offering a way out of foreclosure. They usually offer to pay the mortgage payments for a year and after, the owners could buy their homes back. Of course, in order to do this, the owners need only to sign over the title to them. After two payments, these scam artists will disappear taking with them whatever equity the property possesses.

In some cases, these scam artists will simply convince that homeowner that they could help stop foreclosure – for a fee. Once this fee is paid, the scammer disappears and the homeowner still faces foreclosure.

With the skyrocketing prices of basic commodities, many homeowners consider the offers from these scam artists heaven sent, neglecting to check whether these so called deals are legitimate. In the end, they lose not only their homes but their trust in humanity as well.

The Office of the Solano County Deputy District Attorney has warned the public about these unscrupulous individuals who are taking advantage of distressed homeowners. These scammers work by checking the list of properties in default and contacting the owners.

Homeowners should never consider that there is an easy way out of facing foreclosure. They will certainly need to make an effort to work out their mortgage troubles with their lenders in order to avoid foreclosure. Also, they should be wary of these too-good-to-be-true offers because most of the time, they usually are. If you are in need of assistance, there are a lot of non-profit organizations that could provide information and advice.

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