Thursday, November 20, 2008

foreclosure rescue - PLEASE resist the temptation to pay for this kind of help.

Here's a blurb from The Daily Mortgage Fraud News:

In the following press release Illinois Attorney General Lisa Madigan today (11/18/200) announced that she has filed seven new lawsuits against so-called mortgage “rescue” companies and warned consumers about an alarming rise in these scams that prey on vulnerable homeowners on the verge of foreclosure. Madigan urged consumers to use caution when seeking help if they are at risk of losing their homes and to seek reputable sources for assistance.

“Consumers need to resist offers of a ‘rescue,’” Madigan said. “These scam artists prey on desperate homeowners who are struggling to save their homes. I urge consumers to avoid ‘rescue’ offers and, instead, reach out to trusted sources for help. My office assists homeowners attempting to avoid foreclosure. Anyone looking for help should call us immediately.”

I just came in contact with one of these scams this week. A reader of this blog contacted me to ask about an offer a "rescue" company had made to some people in foreclosure. These folks were being asked for $2000 up front, non-refundable, all for this company to try to save them but with no promises.

Wisely, our fellow reader recognized the signs of a scam and assisted these folks by encouraging them to call their lender directly. Guess what? They got a mortgage loan modification AND they didn't pay their desperately needed $2000 for the privilege.

GREAT JOB YOU ANGEL!!! I am so proud of you.

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