|
Welcome back! What did you think of our Property Management Software?
Are you subscribed to our feed and receiving email updates? |
Phantom Foreclosure Counseling Scam
This is the most common type of loan modification scam. The homeowner is asked to pay a high fee for help with modifying his or her mortgage or with delaying foreclosure. Once the fee has been paid, the alleged rescuer does nothing or next to nothing to provide the help offered or advertised. By the time the homeowner realizes that no help is forthcoming, he or she is left without assistance and with little or no time to save the home.
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. Home Mortgage Loan Scam to Watch Out for – Phantom Foreclosure Counseling is brought to you by SimplifyEm Pay Rent Online and Property Management SoftwareYou might also want to read:
- Home Mortgage Loan Scam to Watch Out for – Bankruptcy Foreclosure In this scheme, the scam artist purports to negotiate a refinancing with the homeowner’s lender after collecting an upfront fee from the homeowner. Instead of contacting the lender, however, the......
- Home Mortgage Loan Scam to Watch Out for – Bait and Switch Scams A bait-and-switch scam is where the homeowners do not realize they are surrendering ownership of their houses in exchange for a “rescue.” Either the sale documents are forged or the......
- Home Mortgage Loan Scam to Watch Out for – Sale/Lease-Back or Repurchase Scams There are various types of sale/lease-back schemes under which homeowners surrender title to their houses in the belief they will be able to remain as renters and buy their homes......
