How do I recognize Foreclosure and Fraud Scams?
Predatory Lending Schemes
Unfortunately, when dealing with foreclosure, not all mortgage lenders or credit repair companies have your best interest in mind.
Predatory lenders often target homeowners who are already in financial distress and are struggling to meet their mortgage payments. They will try to take advantage of your circumstances with tactics that alarm you into taking a particular course of action that will make your financial problems worse and increase the risk of losing your home. Predatory lenders usually offer loans with:
If you are in a financial crisis or facing foreclosure make sure you work with a reputable organization. Fraudulent schemes offered by predatory lenders often sound good, but ultimately their goal is to take your home, not help you keep it.
If you think may have gotten a predatory loan, or would like advice about the appropriateness of a loan you are considering, please call Legal Aide Society of Palm Beach County at 561-833-1461.
Avoiding Foreclosure Rescue Scams
Scam artists often target homeowners who are struggling to meet their mortgage commitment or anxious to sell their home. Recognize and avoid common scams:
Protect your future! Taking action early can help you stay in your home. Let us help you plan carefully before you make any decisions. Call the Take Root South Florida Information line now, at 211 or for a list of Trusted Participants, click here.