When money gets tight, bills pile up and the threat of foreclosure looms, people often become desperate for a solution. Unfortunately, that can make them targets for scams.
There is a long history of businesses preying on homeowners by offering too-good-to-be-true solutions to foreclosure threats. Many of these simply involve the business taking money while doing little or nothing to address the actual problem, leaving the homeowner with even more debt and at greater risk of foreclosure. Now, according to an article from My San Antonio, scammers are getting bolder. They are actually stealing people's homes.
How Can A Scammer Steal A Home?
These scams come in the guise of foreclosure rescue services. They often look professional on the surface. The article details the case of one man who fell victim to one of these scams. The business that scammed him went so far as to pick him up in a fancy car, meet with him in a nice conference room and convince him that they had the solution.
Unfortunately, the man learned soon enough that he was the victim of a scam. His calls were not returned. The promises were not fulfilled. He had fallen prey to deed theft, and his home was taken away by the very business that promised to save it.
What makes these cases particularly difficult is the level of sophistication involved in the scams. Any one scam may involve numerous limited liability companies conducting an intricate mix of legitimate business and fraudulent business. Law enforcement professionals interviewed for the article said that it can take years to sort everything out.
What Can A Homeowner Do When Threatened With Foreclosure?
There are no magical or instantaneous solutions to the threat of foreclosure. Any company offering a quick fix or a guaranteed loan modification should be carefully scrutinized.
That being said, there are viable foreclosure defense options in many situations. An attorney experienced in these matters can explore these options with you and provide clear guidance on how to move forward.