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A foreclosure rescue scheme is a scam that targets those whose house is facing potential foreclosure. The scheme preys on desperate homeowners whose mortgages are in default by offering to prevent the foreclosure. There are various ways in which foreclosure rescue schemes work, causing different types of harm to the homeowners, but all ultimately with the likely end result of the owner being forced out of his/her home and losing even more money. Types of foreclosure rescue schemesThere are several ways foreclosure rescue schemes operate: Lease-buybackIn a lease-buyback scheme, the victim is made an offer where s/he can turn the lease over to the perpetrator with an option to buy it back later. The victim is promised s/he can continue to live in the house and pay rent, which will be counted toward an eventual buyback. The renting prices are made so high that s/he cannot afford them. Additionally, the buyback price is set far above the fair market value of the house. From Wikipedia under the
GNU Free Documentation License  media3.washingtonpost.com 235px x 350px | 26.80kB [source page] Washington to those on the front lines of the housing crisis the Obama administration s pledge to spend $50 billion to combat foreclosures was a welcome change in the government s approach But the actual plan won t be unveiled for at least a week and might not be enough to prevent the housing market s troubles from mushrooming further  consumeraffairs.com 188px x 180px | 6.70kB [source page] Mortgage Rescuers Illinois Launches Offensive Against Foreclosure Rescuers  foreclosurefraudalert.com 120px x 182px | 20.00kB [source page] they outnumber the bad guys by a gazillion to one You just need to find them and we will show you how to do that too As you read this book there are only two rules Rule Number One There is Hope From Yahoo Image Search: "foreclosure rescue"  news.google.com Cibola County Beacon State lawmakers enacted Attorney General King's proposal to protect homeowners against mortgage foreclosure rescue scams by foreclosure consultants. ... news.google.com Toledo Blade Mr. Cordray said last year his office fielded a record number of complaints 30259, an increase of 20 percent from 2008 ranging from foreclosure - rescue ... and more » news.google.com Waynesville Smoky Mountain News When the recession hit and the funding was cut, the fair board couldn't pay the loan and faced foreclosure . So the county stepped in to rescue the ... From Google News Search: "foreclosure rescue"  ethiopianreview.com EthiopianReview.com | DB Fri, 25 Jun 2010 14:29:53 GM New Jersey Man Charged in . Foreclosure Rescue. Scam. EthiopianReview.com | DB | June 25th, 2010 at 10:29 am. philadelphia gennaro Rauso, who owned and operated a real estate management company that purported to help financially distressed ...  foreclosureshomes.net unknown ue, 29 Jun 2010 10:05:05 GM NY AG Targets Another 31 '. Foreclosure Rescue. ' Companies Mortgageorb As of last month, 64778 homes have been foreclosed on in New York. "The letters that we are sending out to mortgage rescue companies across the United ...  realestateindustrynews.com admin Wed, 23 Jun 2010 12:46:01 GM Five Indicted in . Foreclosure Rescue. and Mortgage Fraud Scheme Department of Justice Press Release Scam Involved Lawyers, Mortgage... Four Broward and Palm Beach Residents Charged in Multi-Million-Dollar Mortgage Fraud Scheme Defendants ... From Google Blog Search: "foreclosure rescue" |
