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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 ...
WASHINGTON -- Federal investigators have charged 530 people for allegedly defrauding more than 73,000 desperate homeowners around the country who fell behind on mortgage payments, leaving them ...
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 ...
A collection of 25 federal and state agencies have lodged a total of 189 actions against individuals and companies who allegedly deceived consumers into paying for bogus foreclosure rescue and ...
Founded in 2008 as a 501c nonprofit in Cincinnati, Ohio, AHP pioneered the short sale leaseback as a foreclosure prevention operation to assist struggling homeowners. Faced with resistance from many banks which insisted that families vacate their homes in order to have their short sales approved, AHP changed their strategy in early 2011 and now ...
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]
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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.