Banktown Foreclosures

Tips to Help Owners Spot Foreclosure Scams
Last year, the U.S. Federal Trade Commission identified 71 companies running suspicious foreclosure rescue ads. This year, the Better Business Bureau named foreclosure rescue rip-offs among its top 10 scams.

Here are just two common scams identified in the September “Foreclosure Resource Guide” now available at theREALTOR^® Content Resource:

1. A representative of a so-called foreclosure rescue company promises to negotiate a deal with your lender, instructing you not to contact your lender, lawyer, or credit counselor during the supposed negotiations. Once you pay an up-front fee or a few months of mortgage payments, the scam artist will disappear.

2. A scam artist promises to fend off foreclosure in exchange for an up-front fee. Instead of getting you legitimate relief, the fraudster will pocket the fee and secretly file a bankruptcy case in your name.

Also covered in the September “Foreclosure Resource Guide” now at the REALTOR^® Content Resource are free tips on what to do immediately if you’re facing foreclosure, five foreclosure pros you need on your team, what foreclosure counselors can and can’t do, and website resources for foreclosure help.

The REALTOR^® Content Resource, the new tool brought to you by the NATIONAL ASSOCIATION OF REALTORS^®, is an exclusive member benefit that entitles you to download free homeownership content from HouseLogic to your consumer website, blog, or e-newsletter. HouseLogic is the NATIONAL ASSOCIATION OF REALTORS’^® comprehensive consumer website geared to helping homeowners make smart decisions to enhance, maintain, and protect the value of their home.