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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 ...
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Key takeaways. Foreclosure occurs when a homeowner stops paying their mortgage for an extended period — typically 120 days following the first missed payment.
Green Mirage scammers have impersonated more than 400 mortgage institutions and caused hundreds of thousands of dollars of losses to deceived homeowners, many of whom only learn of the fraud when ...
Foreclosure Scam: 530 Charged for Allegedly Defrauding 73,000 Homeowners. The Associated Press. Updated July 14, 2016 at 9:39 PM. foreclosure scam.
Phishing scams happen when you receive an email that looks like it came from a company you trust (like AOL), but is ultimately from a hacker trying to get your information. All legitimate AOL Mail will be marked as either Certified Mail, if its an official marketing email, or Official Mail, if it's an important account email. If you get an ...
Judicial foreclosure: With a judicial foreclosure, the lender files a lawsuit and the borrower is notified of the non-payment. The homeowner has 30 days to make up the missed payments, otherwise ...
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