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Rescue Companies Add to the Problem of Mesa Repo Homes for Sale



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By : Allana Castro    99 or more times read
While the high number of foreclosed houses and Mesa repo homes for sale continues to bring down the housing market of the area, unsuspecting residents are now forced to cope with another source of danger to their properties – fraudulent rescue firms.

According to local authorities, as the number of repossessed homes in Arizona increases, the number of companies pretending to be foreclosure rescue businesses also rises. Officials have warned residents about being too trusting when it comes to dealing with these companies. Several of these firms have reportedly taken over properties by pretending to help homeowners then asking them to sign the deed of their homes to their firms.

Most of these companies allegedly promise to prevent homeowners' dwellings from getting foreclosed or ending up in the hands of people who purchase repossessed homes. They either ask the owner to sign the deed to the companies or ask for fees for services such as loan modification and payment reduction.

The Arizona attorney general's office has recently filed a lawsuit against the company Guardian Group. The office has accused the firm of deceiving over 2,000 homeowners, including those who eventually lost their properties to Mesa repo homes for sale. Allegedly, Guardian asked homeowners who are facing foreclosures to pay them with the promise of working towards modifying the homeowners' mortgages or getting lenders to approve a reduced monthly payment.

Court documents reveal that Guardian demanded up front payments worth $1,595 from each homeowner, explaining that the fees are for the company's mortgage reduction program. However, the lawsuit alleges that this service is rarely, if ever, provided to the homeowners who already paid the fees.

Local officials have revealed that the number of fraudulent foreclosure rescue businesses operating in Arizona has increased dramatically in the past six months. This has caused a lot of homeowners to lose their homes to foreclosures and bank repossessions, along with certain amounts of cash that they paid to these companies.

Arizona authorities have recently launched various efforts to stop these companies from further aggravating the state's housing market problems brought about by the high number of Mesa repo homes for sale and other foreclosed properties in other areas of the state.
Original Post: Rescue Companies Add to the Problem of Mesa Repo Homes for Sale on Repo-Homes.com.

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