Foreclosure Scams – Beware of Foreclosure Specialist Knock
Some homeowners are losing their homes to foreclosure rescue scams. Here are a few things to beware of when in foreclosure and looking for solutions to save your home.
Lease-back or Repurchase Scams is on the rise and knowing what to lookout for can save you a lot of stress and heartache. Be cautious if someone offers to pay your mortgage and rent your home back to you.
This is sometimes called lease option and involved signing the deed to your home over to a pretend buyer of your property. When you sign over your deed you give the con artist right to evict you, raise payment or sell your house or refinance all your equity out of your home.
This leaves you holding the bag still responsible for the mortgage payment to your lender. By not making payment the lender can continue the foreclosure procedure.