Foreclosure Rescue Fraud Victimizes Distressed Sellers

When sellers default on a mortgage, that information becomes public record, which means home owners can become sitting ducks for foreclosure rescue fraud.

Since information about home owners who are in default is so readily available to anybody who requests that information, some crooks and scammers can't resist the opportunity to prey on those in distress. It's like open season. Foreclosure rescue fraud is everywhere, but it's even more prevalent in falling real estate markets because we have record numbers of foreclosures happening. More foreclosures filed equals more foreclosure rescue fraud.

In many cases, it's not the home owners' fault that they are scammed. Many owners desperately want to save their homes and will jump on any opportunity that appears legitimate and offers a solution to their woes. These owners find web sites that give them hope because the sites present false images akin to Internet angels, coming up with logical sounding alternatives. Instead, home owners are ripped off. Those who operate foreclosure rescue fraud web sites are running highly profitable scams. They either charge owners outrageous upfront fees, steal title or worse . . . read more about Foreclosure Rescue Fraud.

More Articles by Elizabeth Weintraub, click below:

• The Subprime Mortgage Meltdown
  
• Legal Ways to Stop Foreclosure
  
• Buying a Home With Bad Credit

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