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Real estate expert Barbara Corcoran appeared on The Today Show this morning to explain the top foreclosure avoidance scams to look out for. If you know anyone struggling with mortgage payments ...
The scheme preys on desperate homeowners whose mortgages are in default by offering to prevent the foreclosure. [1] [2] There are various ways in which foreclosure rescue schemes work, causing different types of harm to the homeowners, but all ultimately with the likely end result of the owner being forced out of their home and losing even more ...
Foreclosure Scam: 530 Charged for Allegedly Defrauding 73,000 Homeowners. The Associated Press. Updated July 14, 2016 at 9:39 PM. foreclosure scam.
Subprime loans targeted at vulnerable and unsophisticated homeowners often lead to foreclosure, and those victims more often fall to equity stripping scams. [2] Additionally, some do consider equity stripping, in essence, a form of predatory lending since the scam works essentially like a high-cost and risky refinancing.
But today, one of the most frequently targeted groups, foreclosure victims, is getting a fair shake in civil court. Thanks to a Federal Trade Foreclosure Rescue Scam Victims Get Their Day in Court
Fannie Mae's foreclosure prevention efforts have generally been made available to a borrower only after a delinquency occurs. Under Fannie Mae's new guidance, loan servicers can use foreclosure prevention tools to assist distressed borrowers when a borrower demonstrates the need. As noted above, these guidelines apply to borrowers who are still ...
Renate Brevard fell victim to a foreclosure rescue scam--twice. First by the bogus agency that promised to help repair her credit so that she could refinance her mortgage. Then by the lawyer she ...
The City of Chicago and Neighborhood Housing Services (NHS) of Chicago pioneered the 311 Foreclosure Prevention Program as a consumer counseling and information service which helps homeowners at risk of losing their homes to foreclosure, credit counseling and advocacy services. [1]