Almost every local government in the country has been busy with finding ways to help distressed homeowners stay in their homes and avoid foreclosure. Lately, it is not only this matter that the Washington’s Attorney General Office is worried about, considering the rising number of homes entering some stage of foreclosure. In addition, they are also getting concerned about foreclosure scams.
Desperate to get out of foreclosure, many troubled borrowers ignore common sense and become victims to scam artists who falsely promise to help them with their mortgage problems in exchange for some money. In worse cases, these unscrupulous individuals manage to cheat the homeowners out of their equity or convince them to transfer ownership of the distressed property.
It would seem that these scammers browse local foreclosure listings for possible targets. For this reason, the Attorney General has finally decided to protect these troubled borrowers by using the same public listings and sending distressed homeowners warnings against these fake foreclosure-rescue operations.
About 14,000 letters will be sent to troubled borrowers this week by the Consumer Protection Division of the Attorney General’s Office. Aside from this, the county treasurers will be sending out these warnings, together with the foreclosure notices, to homeowners who failed to pay their property taxes, beginning September. The warnings will also be posted in county offices and official websites as well as in local newspapers and newsletters.
The AGO, which has already acted on complaints against businesses that prey on these unfortunate property owners, is determined to protect distressed homeowners from these illegitimate foreclosure rescue operations by making sure that its warning reaches the homeowner first.
For county officials, the said letter from the AGO will further strengthen the campaign against foreclosure-related scams. Homeowners facing foreclosure should also be cautious and wary when a suspicious individual suddenly appears on their doorsteps offering foreclosure help.
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