foreclosure scamsYou can be sure that the bad guys will find ever new ways to take advantage of a situation solely for their benefit. Making an already unfortunate situation worse for folks losing their homes and for the  people who legitimately want to help with the growing foreclosure crisis.

In the past few years it was the mortgage scams, we kept hearing about. Recently we  have heard plenty about being wary of people that ask for money upfront and/or of anyone asking that you sign a quit claim deed for  your property. Those are two of the more common they do bear repeating, because it may seem obvious to most of us, however there are people still falling for both. Just like the Nigerian Prince scam on the internet, people  fall for that one all the time in spite of the ridiculous  impossibility that this African Prince wants to include you in his fifteen million dollar inheritance.

I read an article recently which I want to share today, it mentions three new scams; one of them speaks specifically about short sales. This one came as  a surprise to me since a short sale, which is negotiating with your lender to have them accept less money than you owe them, is a pretty straight forward procedure –  and is what helps you to finally sell your house.

A helpful tip when checking someone who wants to help you is, do they have a physical address to their business? One that you can check out?

You should read this article in order to continue to arm yourself with the knowledge you need to make the best decision for yourself and your family.

Mortgage Scams in a Weak Housing Market

Fraudsters will always finds ways to scam lenders and homeowners. And in recent years, they’ve shifted their tactics to profit from the market’s downturn. Read More…

You may also enjoy this posting: Stopping Home Foreclosures In Utah

photo credit: Short Sale Arizona

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