Credit Cards And Loans - Foreclosure


How alarming, how disgusting and unbelievable that personal foreclosure scams exist, as I write this article I’m just amazed at the low levels con artists will go to, to make a buck. If this is not the most vulnerable group of people to be suckered I don’t know who is. Now I don’t condone any form of scams, they really sicken me.

Some forms of cons, where someone thinks their going to make a fast buck, is greed fed and I understand how the victim will be sucked in, but with personal foreclosure I just don’t get it. This group of people don’t have money or greed, just desperation to keep a roof over their head and that it what is the driving force, the will to believe anything that they think will help save them.

So lets look at what personal foreclosure scams are how to spot them and how to avoid them. This whole topic is difficult because the good bad and ugly all promise the same thing. To save your home or belongings. So it really is buyer beware. Debt managements companies and insolvency practitioners are in abundance and all want as much business as possible, some will promise the earth etc..

Beware of the following, a company that states or guarantees to prevent foreclosures regardless of the individuals circumstances and wants payment upfront. (this should be the biggest warning you need).

Companies that are quick to offer buying your home to allow you to rent back and paying less than market value with the hook of you buying it back in the future.

Where paperwork will be completed for you and any scheme that you feel pressured to sign before you have had a chance to understand it thoroughly and where you are discouraged from seeking advice from your attorney, lender, creditor or housing counselor.

Now everyone of the above could broken down into articles that will fill pages and pages of do’s and don’ts, but for the purpose of this discussion take them as broad warnings as what personal foreclosure scams look like. With regards to paying fees up front, due to nature of the business and the fact that most people seeking advice will be heavily in debt advance payment will likely be unavoidable the emphasis is on the guarantee the scammer will be promoting.

Lets look at ways of avoiding the personal foreclosure scams, one of the best ways is from someone you know well and can trust is a personal referral this will possibly be where someone has used the company or advisor. Results and testimonials that can be verified will set you on the right road, try advice groups as well but check things out carefully first and make sure you are entirely satisfied with who you choose to pay or work with, if in any doubt leave well alone.