What is a foreclosure rescue scam?
Rising foreclosure rates have led to a growing number of scam artists offering to “rescue” homeowners in financial distress. They use a wide variety of scams and target people of all ages in virtually every community across the country. Anyone can become a victim. Foreclosure rescue scams usually revolve around heavily promoted deals supposedly designed to save the homes of people facing foreclosure – those who have fallen behind on their mortgage payments. They proclaim to “save your home” or “pay your mortgage,” but in reality generate a quick profit for the scam artist or strip away the value of your home with no benefit to you. Scam artists can evict you from your own home and then sell it on the open market. How does a foreclosure rescue scam work? The “rescuer” identifies distressed homeowners through public foreclosure notices in newspapers, via the Internet, or at government offices. The “rescuer” then contacts the homeowner by phone, personal visit, card or flyer left at the d
