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Be Aware of Foreclosure Fraud so That You can Avoid Becoming a Victim

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By : marco benavides    99 or more times read
If you are aware that foreclosure fraud is out there, you can avoid becoming a victim of it yourself. While it is true that losing your home can be a very trying experience, you should not go to the brink of desperation because that is what the scammers are hoping you will do.

Scammers know that the more desperate you get, the more likely you will be to make a mistake and fall victim to a scam. Scammers are full of false hopes and promises, and they will tell you just about anything to get you to listen. The more you listen, the easier it will be for you to fall into the trap they have set for you.

Scammers actually look through public records, the Internet, newspapers and various other means to find people whose homes are being foreclosed. However, that is only the first part of the plan because they need a homeowner to listen for the second part of the plan to work. The second part involves getting money from you, or having you sign over the deed or title to the house.

These people will offer you what is called phantom help or phony counseling to try to get you to listen. They will tell you that they can help in negotiations with your lender, or perhaps they will offer all sorts of schemes to help save your house, for an up-front fee, of course.

Whenever someone offers you foreclosure help for an up-front fee, that is usually the best warning sign that something is wrong. After all, if you are offered a guarantee that your home will be saved, why should there be a fee paid before the work is done?

Do not be like so many people before you and pay the fee before the work is actually done. If you do, you are likely to watch the scammers disappear just as they have done with so many others. In fact, the only way for a scammer to stay in business is if people are willing to give up their hard-earned money. If people were not so desperate, they would not be so willing to part with their cash.

The scams that are out there are too many to mention, but you can get a really good listing on the FTC website. In fact, the FTC provides consumer protection and fraud prevention, and a host of other tools to assist consumers from falling prey to scammers. You can find a lot of useful information if you go to the FTC website. In fact, the website also provides information about people and organizations that provide legitimate assistance to people facing foreclosure.

The scammers are out there, and they are not likely to go away unless consumers do their part, become informed, and stop falling for false hopes and dreams. If someone contacts you with what you believe is a scam, report it to the proper authorities, and let them take care of the situation. Do not wait until you have been scammed to report the activity, and never feel too ashamed to make a proper report.
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