Home Retention and Foreclosure alternative Scams
Josh Talayka | May 26, 2010
Scammers and con-artists tend to make a living by taking advantage of people who are vulnerable. So it’s no surprise that with the number of people facing foreclosure, that we are seeing more and more scams that promise to rescue you from foreclosure.
Now this doesn’t mean that every person or company that offers to help you avoid foreclosure is running a scam, because there are many legitimate consumer financial counseling agencies out there that can help you work with your lender. You just have to be carful when trying to distinguish between the two. If someone offers to help negotiate a loan modification between you and your lender, or work to stop or delay a foreclosure for a fee, you will want to carefully check his or her credentials and watch out for the warning signs of a scam. In most cases, the immediate red flag to look for is whether or not they are requiring a substantial up front fee.
Here are some examples on some of the types of scams to be aware of, and what you can do to make sure you do not become another victim: