Avoiding all kinds of real estate scams in Florida
Foreclosure rescue scammers abound these days in the face of high unemployment rates and real estate market issues that remain from previous years. They are companies and individuals who pretend to assist homeowners in financial trouble but are really only in it to make a profit no matter who gets hurt in the process. They do this by taking money from distressed consumers, stealing the equity in their home while giving them nothing.
Although there are some legitimate organizations that are offering help to homeowners who are experiencing difficulty keeping up with their mortgage payments, scams are only interested in following the money. They prey on desperate homeowners’ fears because they know there is money available.
There are three basic types of foreclosure rescue scams. These include phantom help, which is where scammers take money from homeowners without ever delivering any services, or very little. Another scam is the bait and switch, where scammers con homeowners into signing over the ownership of their home. Usually, scam artists will trick a homeowner into signing the necessary documents. The third scam is sale and leaseback, where the scammer talks a homeowner into selling them their home. They …read more