Foreclosure is one of the worst things that can happen to a homeowner. Knowing there are crooks waiting to feed on your desperation and vulnerability makes the situation even more worrisome. Hundreds have fallen victim to phony foreclosure counseling, phantom help, bait and switch, rent to buy, and bankruptcy foreclosure scams. Being able to see the telltale signs of a foreclosure rescue scam can save you the pain and suffering of becoming yet another victim.

What should you watch out for? Beware of any rescuer that guarantees or promises to save your home. You need to steer clear of any company that guarantees to stop your foreclosure, tells you not to contact the lender, a attorney or credit and housing counselors, requires an up front fee before providing services, will only accept certified funds or wire transfers as payment, or instructs you to make your mortgage payments to them instead of your lender.

Bait and switch con artists outright take your property by coning you into signing papers that transfer the property deed or title to their company. Equity skimming scams steal the equity in your home while leaving you with your mortgage obligation. In the rent to buy scheme you are told to surrender the title of your home, but you will be able to remain in it as a renter. Although you have the option of buying it back, generally the terms are so outrageous it is impossible to do so. Avoid any company that instructs you to sign over the title or deed to your house.

Staying calm and not dropping under pressure is the best thing you can do. Scam artists will often offer to fill out paperwork for you. While you think they are arranging a rescue loan for you, in reality, they are taking the money youve given them, filing a bankruptcy in your name and stealing your house. Do not sign anything that you are unsure of or dont understand, and never allow any company to fill out papers for you.

Knowing where to turn is your best defense. You should start by calling your lender and trying to make a payment plan. Also, the FTC offers free info that helps consumers recognize and avoid fraudulent, deceptive and unfair business practices. If you feel you have been the prey or a foreclosure rescue scam you can file a complaint at the FTC website.

Related posts:

1. Stop Your Own Foreclosure Fast If you, like many people in the U.S.A, are facing...
2. Broward Foreclosure Help Law Offices Foreclosure Defense Attorney - Aiding Families to avoid Bankruptcy...
3. Foreclosure Scams Home foreclosure is one of the most common problems that...
4. True Stories of Mortgage Company Victims It 's really disgusting to see that we as a...
5. Your Home Was Sold Out From Under You And You Didnt Know It. Foreclosure. In todays hard economic times, more and more folks...

Related posts brought to you by Yet Another Related Posts Plugin.