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Fraudsters Target Owners of Foreclosed Houses and Duplex Homes

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By : John Cutts    99 or more times read
Homeowners have been warned that a number of rescue companies pretending to provide assistance to homeowners facing foreclosures are operating all around the U.S. These companies are targeting people facing foreclosures, including families who live in duplex homes, single family dwellings and other types of residences.

These fraudulent companies have reportedly claimed several homeowners in Missouri as their victims, including those who are facing Kansas City pre foreclosures. According to local authorities, the firms pretend to provide help that will prevent homeowners from getting foreclosed in exchange for a certain fee.

A homeowner from Saint Charles recounted his experience with H.O.P.E. Alliance, a foreclosure rescue firm that got in touch with him. The Saint Charles homeowner wanted to lessen the amount of mortgage he pays for his home and the firm offered its services in exchange for a fee of $1,500.

H.O.P.E. allegedly asked for documents providing the homeowner’s credit card and bank statements, along with information on other debts and car loans. Since the documents sought by the company were the same ones that legitimate rescue firms usually ask for, they did not think anything about it.

But after three months without any result, the homeowner eventually concluded that he had been duped. The experience is not a new one, with several owners of foreclosed duplex homes and other types of residences claiming similar stories with other companies and for varying amounts.

Cheap houses in Missouri are not easy to find and mortgage modifications are not easy to negotiate. Because homeowners need help from professionals, these companies take advantage of the fact, authorities have claimed. Government housing officials however, advise homeowners to get in touch with HUD-certified rescue companies instead of hiring private enterprises.

Officials have also cautioned people who are trying to find foreclosure properties for sale and homeowners facing potential foreclosures that legitimate rescue firms would not ask for upfront fees and will provide free modification services and counseling.

H.O.P.E. Alliance officials have denied that they are operating fraudulently and are cheating owners of duplex homes and other types of residences who are having difficulties paying their mortgage. According to the company, they charge fees to finance the work needed to help these homeowners.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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