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Protecting Homeowners Facing Foreclosure

In the last couple of years, the rate of foreclosures and, subsequently, foreclosure scams has increased dramatically. Homeowners are struggling to make mortgage payments. Eventually, these struggling homeowners often face foreclosure or potential foreclosure.

Facing foreclosure can be an extremely difficult and very emotional experience. Homeowners can be very vulnerable and desperate for help. Foreclosure scams are designed to take advantage of the vulnerability and desperation of borrowers. Foreclosure scam artists convince homeowners that they can save the borrower’s home and stop foreclosure. In reality, foreclosure scam artists pocket homeowners’ money and do nothing to actually help the borrower. When homeowners make this discovery, it’s too late for them to do anything about it!

This site will provide you with valuable information so that you can protect homeowners facing foreclosure from becoming victims of a scam artist. If you know of anyone who is behind on their mortgage, this site will give you the information you need to help them keep their homes.

How Do Scammers Find Their Victims?

A Notice of Default is a legal action giving Public Notice that loans or other liens on a property are delinquent and the lender or the lien holder intends to foreclose if the payments are not brought current. These notices can be found in many places depending on local laws, but commonly, you can find them in newspapers, county courthouse records, and the Internet. A Notice of Default is one of the first steps in the foreclosure process. A Notice of Default is a legal motion filed by the bank stating its intention to foreclose on the property unless immediate steps are taken by the homeowner.

Since the Notice of Default is a public record, anyone can find out when a home is in danger of foreclosure. So, unlike computer hackers, foreclosure scam artists simply have to pay attention to these public notices to find their potential victims. Once foreclosure scam artists find the Notice of Default and the homeowner information, they start sending the borrower messages. They begin sending flyers in the mail, emails with messages such as those below to grab attention:

  • Get an Expert's Help to Avoid Foreclosure!
  • Get Legal Help to Stop Foreclosure!
  • Get Loan Modification Help to Save Your House from Foreclosure!

Foreclosure scam artists will also often simply contact a desperate borrower directly. Since they have the name and address of the homeowner, they may come by the homeowner's house or call them on the phone. Foreclosure scam artists pretend that they are experts in stopping or avoiding foreclosures. Desperate homeowners who might ordinarily see through these scams are often not thinking clearly because of the stress and fear surrounding the foreclosure, making them easy targets for the foreclosure scam artist.