“Foreclosure Fraud” and Scams

This video clip on “foreclosure fraud” is from the show Open House on CNN.

It shows distressed Homeowners in trouble and facing possible foreclosure are subject to a lot of fraud and scam mortgage and real estate offers. If you are facing a short sale or foreclosure you should be careful when answering to unsolicited mail, phone calls or emails. In this video a HUD representative and legal services representatives explain what homeowners should watch out for and what to do.

This video briefly explains how a foreclosure fraud and flipping scams work and what to look out for so you are not another victim!

Consumer advocates and legal experts are advising homeowners to watch out for “foreclosure rescue” scams as foreclosure rates shoot through the roof. One popular method of “foreclosure fraud” is the offer to help a troubled homeowner get a new mortgage, and at a closing, trick the homeowner into sign away the deed to the property.

foreclosure fraud preys on homeowners

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