Foreclosure rescue scams are actually easy enough to spot – as long as you know what you’re looking for.
Because foreclosure is a public process, scammers often use public records to locate homeowners who have recently been issued an NOD, or Notice of Default. Then they’ll mail a letter, offer, or some other form of advertisement promising to ‘rescue’ your home.
Rule #1 – The first rule of foreclosure rescue scams is that a legitimate financial or legal entity will never send you an unsolicited offer for help. You have to come to us and let us know you need help. That’s not because we don’t want to find you. It’s because, legally, we’re not supposed to. And nobody else should be either.
Rule #2 – The other easy way to spot a foreclosure rescue scam is to scrutinize what they’re actually offering. Many of these scammers make ‘guarantees’, which is never safe when it comes to foreclosures. Every situation is unique and there are almost always unforeseen variables that come up. ‘Guarantees’ during this process are practically impossible. So, rule number two is to be wary of any entity or person, unsolicited or not, that ‘guarantees’ you any kind of result.
Rule #3 – It should never cost you money up front, or an excessive fee, to get help with your pending foreclosure. Be cautious of rescue companies who seek money or fees up front, or ask that you make your mortgage payments directly to them.
A few other tell-tale signs that you’re dealing with a scammer:
- They recommend that you stop talking to your attorney or financial advisor
- They require some extensive contract to work with them
- They offer to complete the paperwork for you or tell you that they’ll simply ‘take care of everything’
If you’re seriously looking for help with your foreclosure defense, it should be a partnership between you and your attorney or advisor, and it should be easy on your wallet. Our foreclosure defense and financial specialists are the real deal and we’ll explore all of your options to see which one is the best fit for you.
