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Foreclosure Scams To Be Aware Of
By Mark Lambie, Thu Dec 8th

Homeowners facing should be aware of unscrupulouslenders and scammers. Don’t get me wrong, most lenders andagencies are reputable and legit. However some lenders, commonlysecond mortgage issuers will use unethical practices thatincrease the risk of nonpayment by the borrower. These tacticsmay include lending a large amount in hopes that the borrowerwill not be able to keep up with the payments, chargingoutrageous interest, points or fees. They may also repeatedlyrefinance the loan without any real beneficial reason to theborrower. Homeowners facing are often targets ofthese scammers because they are seeking any solution possible atthe time. One of the most common tricks is an “equity skim”.What is equity skimming? This is when a buyer approaches you andoffers to get you out of buy paying off the mortgageor offering money when the property is sold. They will oftensuggest you move out quickly and sign the deed ______continued.

Interesting article on free foreclosure listings:

U.s. Real Estate Foreclosures Increase Nationwide
By Real Estate Advisor
Foreclosures continue to rise across America. According to the latest annual report of http://Foreclosures.com, the number of foreclosures filed nationwide in 2006 had increased by 51 percent from Read more...

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continued______ over to them.They will then collect rent from the property and fail to makepayments on the mortgage. The lender will continue theforeclosure process and foreclose. Signing over the deed doesnot mean you are no longer obligated to make mortgage payments.

Another trick scammer’s use is to set up a “counseling” agency.They may contact you offering to do certain services for a givenfee. Often times these are thing you can do yourself for free.It is important to note that most services are legitimate andwill provide lots of great help.

So what do you do if you suspect you are being duped? The mostimportant things is don’t sign any documents unless you fullyunderstand what you are signing. If the party you are dealingwith makes any sort of promises make sure they are in writing.If you arrange a contract of sale loan assumption make sure youknow weather or not you are released from liability of the debt.Consult with your attorney before agreeing to any deal thatinvolved your home. Should you decide to sell your home to stopforeclosure, have a look at any possible complaints pertaing tothe prospective buyer.


About the author:Mark Lambie is the owner of Stop Home Foreclosure a website for helping people facing foreclosure.

Another decent article on free foreclosure listings:

Dealing With Financial Difficulties... How To Save Your Home
By Gus Skarlis, Fri Dec 9th
People who have financial difficulties may find themselves in asituation where they know they can't continue making theirmortgage payments. If that happens to you, come up with a game plan Read more...

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