On foreclosures in georgia: Home Loans And Mortgages - Beware Of Deed Theft ScamBy Charles Essmeier, Thu Dec 8th The average home in the United States has a value of $206,000, arecord amount. Real estate prices have been rising throughoutthe country during the last five years, and homeowners have seenthe value of their property skyrocket. In California alone, theequity in private homes has increased by more than one trilliondollars in the last five years alone. Many homeowners do noteven realize that their home may be worth hundreds of thousandsof dollars more than they know. Unfortunately for them, a newbreed of thieves is well aware of the value of home equity, anda scam known as “deed theft” has allowed them to steal homesfrom thousands of people. Deed theft is simple inprinciple. The perpetrators of deed theft post flyers aroundtown offering “foreclosure help.” They seek homeowners withmortgages who may be experiencing some temporary financialsetback that threatens them with foreclosure. It’s not uncommonfor people who have been living in their homes for years to havea sudden financial emergency that prevents them from makingtheir house payments. Perhaps a job loss or illness is to blame.The economic downturn of the last five years has left a lot ofpeople struggling to pay their bills, and these are the peoplethat the deed thieves seek. Their flyers promise to help thosein danger of having their homes taken through foreclosure. Thethieves meet with the homeowners and ask to have ______continued. Interesting article on foreclosures in georgia: Using Smart Financial Management To Stop Foreclosure This seems like a friendly gesture,except that the “rescuer” has no intention of selling the homeback to the victim. Once the title is signed over to them, theylegally own the home. They may evict the victim, sell the home,or borrow against it, and there is little recourse for thevictim, who is now nothing more than a squatter. Many of thesevictims fail to realize that they may have had hundreds ofthousands of dollars in equity in their home or that theirmortgage company may have been willing to either refinance theirhome or assist them in some other way with making theirpayments, perhaps by assisting them with to This scam is currently popular across the country andhomeowners could easily avoid being victimized by simply callingtheir mortgage company at the first sign of financial struggle.Mortgage companies aren’t really interested in foreclosure;they’d much rather get paid if at all possible. Before acceptingthe “help” of strangers who post signs on streetcorners,homeowners should start by asking help from those with whom theyare already doing business. Doing so could not only save thehomeowner money, it could save the homeowner’s house. About the author:©Copyright 2005 by Retro Marketing. Charles Essmeier is theowner of Retro Marketing, a firm devoted to informationalWebsites, including End-Your-Debt.com, a Website devoted to Another decent article on foreclosures in georgia: Investing In Government Foreclosures: Hud Houses And Va Homes Off-site
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