Foreclosure rescue scams prey on desperate homeowners
- Posted by Sheryl Harris, The Plain Dealer, OH
The Cuyahoga County Foreclosure Prevention Program warns that foreclosure rescue scams may include:
• Demands that homeowners pay a counselor instead of the lender.
• Requests that homeowners deed over their home to someone else.
• Promises of legal or other assistance that evaporate as soon as a fee is paid.
• Pledges to help a homeowner in foreclosure get a loan from a new lender, a promise that, with the tightening of credit, isn't likely to happen.
The scams prey on a consumer's desire to save his home, Jones said. 'When an offer is made, his first thought is to agree.'
The irony is that genuine help is available free.