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Foreclosure Help Frauds Article
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Help Stop Foreclosure
from:There are many companies that offer to help stop foreclosure. Most are legitimate companies that are able to help the foreclosure process. There are others that are looking to prey on you when you are weak and desperate. It is important that you properly research any company that you consider working with to help stop foreclosure. There are also many free resources that are available. The internet is a great place to access this information. Make sure that you do your homework before allowing anyone to help.
The best place to start is to communicate with your lender. They are in a unique position to help you. They have quite a bit at stake if your property goes into foreclosure. It is estimated that lenders lose between fifty to sixty thousand dollars every time a property is foreclosed on. They are in the business of lending money, not owning or selling houses. There are also laws that prevent lenders from making a profit on foreclosed properties. They tend to be motivated to help stop foreclosure. It is important to never ignore any communication that your lender sends you. There are programs that are available when you are only 1-2 payments behind that are not available the further behind you get. The initial letters will provide valuable information to help stop foreclosure.
The US Department of Housing and Urban Development (HUD) is a great resource when finding help stopping foreclosure. Their web site offers many tips that you can do on your own that may be enough to help stop foreclosure. The web site also offers information to contact HUD counselors that are trained to help stop foreclosure. These counselors either provide their assistance free of charge or for a minimal fee. Some other companies will charge fees as high as 2-3 times you current mortgage payment, so HUD counselors are a valuable place to start.
If you do end up working with a company that can help stop foreclosure, make sure you research them extensively. Check the Better Business Bureau in your area to see if they have any grievances against them. Never agree to sign something that you don’t agree with or understand. It is not uncommon to find others that claim to help stop foreclosure, but are only looking to take advantage of your situation. Be leery of those that claim to be able to solve your problems by signing a few papers. You may be signing away ownership of your home. Also be weary of those that offer the counsel to stop paying your mortgage. They do not have your best interest at heart.
Foreclosure Help Frauds News
Oregon legislators approve funds to help stressed homeowners - Statesman Journal
 OregonLive.com | Oregon legislators approve funds to help stressed homeowners Statesman Journal The Department of Justice will receive about $3.7 million, which will also help the agency monitor and enforce foreclosure fraud. Another $3.8 million would go to Oregon Housing and Community Services, mainly for hiring more housing counselors as part ... Ore. Lawmakers OK Foreclosure Mediation Funds |
Lawmakers Gave Millions from Mortgage Settlement to Local Governments - LoanSafe
 RealtyBizNews | Lawmakers Gave Millions from Mortgage Settlement to Local Governments LoanSafe Virginia received $66.5 million as part of a national $25 billion settlement with five large banks for foreclosure fraud. Direct payments to states were intended to protect consumers and assist state foreclosure prevention efforts, but in many cases ... Foreclosure Prevention Program Gets Major Share Of State's Funds From Settlement Georgia – No Plans To Help Homeowners |
Texas firm targets Calif. homeowners with foreclosed 2nd mortgages - California Watch
 California Watch | Texas firm targets Calif. homeowners with foreclosed 2nd mortgages California Watch The company has sued people with second-mortgage debts of less than $150000, despite a state law prohibiting lawsuits alleging fraud on mortgages below that amount. Heritage Pacific's collection methods now face legal challenges, ... |
Plan for foreclosure mediation money nears approval - Statesman Journal
Plan for foreclosure mediation money nears approval Statesman Journal The money would go toward starting the new mediation program and monitoring and enforcing foreclosure fraud. The amount is about $1.4 million less than what the Department of Justice and Oregon Housing and Community Services requested for the remainder ... |
Lawyers prey on foreclosure-facing homeowners in San Fernando Valley and beyond - Pasadena Star-News
Lawyers prey on foreclosure-facing homeowners in San Fernando Valley and beyond Pasadena Star-News Suspecting fraud, the Van Nuys resident hired a lawyer to sort things out. The attorney told her there was indeed fraud, and promised to sue the bank and get her a new loan. She paid him $8000 upfront and he advised her to stop making her mortgage ... |
Lawyers Prey on Foreclosure-Facing Homeowners in San Fernando Valley and Beyond - LoanSafe
Lawyers Prey on Foreclosure-Facing Homeowners in San Fernando Valley and Beyond LoanSafe Suspecting fraud, the Van Nuys resident hired a lawyer to sort things out. The attorney told her there was indeed fraud, and promised to sue the bank and get her a new loan. She paid him $8000 upfront and he advised her to stop making her mortgage ... |
Man gets 13 years for posing as his dead mom - StandardNet
 Brisbane Times | Man gets 13 years for posing as his dead mom StandardNet But the video that was supposed to help Thomas Parkin prove his elderly mother was alive only sent a jury into giggles. Now Parkin faces at least 13 years in prison for donning the strange disguise in a scheme to reap his dead mom's money. Dead mom walking: how a benefit fraud unfolded Brooklyn Man Sentenced in Fraud; Dressed as Dead Mom NY man who dressed as dead mom sentenced for fraud |
Florida Supreme Court hears landmark foreclosure suit - Chicago Tribune
 Financial Post | Florida Supreme Court hears landmark foreclosure suit Chicago Tribune Legal experts say the lawsuit is one of the most important foreclosure fraud cases in the country and could help resolve an issue that has vexed Florida's foreclosure courts for the past five years: Can banks that file fraudulent documents in ... Florida foreclosure case could slam banks Foreclosure fraud hits Fla. supreme court |