Arizona posted an almost 35 percent increase in the number of homeowners who complained against fraudulent bank owned foreclosures prevention schemes. The Attorney General’s office has ranked fraudulent loan modifications as among its top 15 most common fraud.
The foreclosure crisis has affected thousands of homeowners in Michigan. Many of them were desperate to protect their properties from Michigan foreclosure listings that they would grab on anything that comes their way if it means saving their homes from foreclosures.
The federal government has finally launched its campaign against scammers preying on borrowers troubled by the real possibility of seeing their dwellings turning into foreclosed homes.
Scammers and cons victimizing homeowners threatened by foreclosure listings are rarely imprisoned because judges usually file only civil actions against them. Many states also have not criminalized foreclosure fraud.
The state of Idaho, eighth in RealtyTrac's list of states with the highest foreclosures rates, ordered National Foreclosure Relief to stop offering its loan restructuring services to mortgage borrowers whose homes are in danger of becoming foreclosed homes.
Homeowners worrying about foreclosure listings have become easy prey to fee-charging foreclosure consultants who promise loan modifications that never materialize.
Using the same foreclosure listings that scam artists use, the Attorney General’s Office warns distressed homeowners about these foreclosure-related scams.
Foreclosed homes listing continues to step up in Illinois, so Attorney General Lisa Madigan intensified her efforts against mortgage modification fraud. The pace of foreclosure filings in October soared by more than 56 percent from September.
Be warned about persons and businesses promising to make the loan modification process easier for you. Similarly, persons who are former owners of tax foreclosure properties need to be cautious about scammers offering assistance.
Two supposed loan-help companies in Tennessee are now facing lawsuits for promising help, asking fees then, giving no results to the foreclosure-troubled.
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