AgentMortgage

Troubled borrowers fall prey to scams

How to avoid becoming the next victim
Published on Jun 11, 2009

If you or someone you know is in trouble with their mortgage, there are lots of people who claim that they can help you. The challenge you face, however, is determining who is legitimate and who is running a scam. As unemployment continues to soar, an increasing number of people are facing serious challenges in making their mortgage payments. Sadly, distressed homeowners have become prime targets for scammers who claim they can help troubled homeowners escape their financial woes. Here are some of the most common real estate mortgage scams. 1. In order for us to negotiate with your lender on your behalf, you must first deed the scammer the property. People who run this scam will tell you a partial truth: The lender will negotiate only with the owner. This is true. It does not mean, however, that you must deed the property to someone else in order to obtain help. What the scammers aren't telling you is that you can authorize an attorney or some other qualified individual to...

Comments