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 number of swindlers victimizing homeowners troubled by foreclosure has been rising across the country, promising foreclosure prevention and then disappearing after collecting advance fees.
Incidents of mortgage loan fraud have increased as lenders tighten their loan requirements to reduce their risks of lending to borrowers that later become delinquent and that add more homes to foreclosure listings.
If you are a distressed homeowner troubled by foreclosure listings, you might qualify for Obama's program, including some grants. Keep in mind that these funds are available to you even without the help of swindlers that persuade you to think otherwise.
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.
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