The Charlotte BBB reports that last year only two
mortgage foreclosure rescue companies operated in the Charlotte area, but now the number has now jumped to 15 — six of which have government actions against them including cease and desist requests, temporary restraining orders or consent judgments.
BBBs nationwide have received hundreds of complaints from homeowners who enlisted the help of unscrupulous
mortgage foreclosure rescue companies and they all tell a similar story.
Typically, homeowners report that they were either contacted directly by
a mortgage foreclosure rescue company or came across a Web site while searching for help to stop foreclosure on their home.
The Cleveland BBB reports a similar dramatic increase — 21 new companies offering
mortgage foreclosure rescue opened in the Cleveland area in the past year alone.
Not exact matches
And if you think you've been the victim of a
mortgage or
foreclosure rescue scam, file a complaint with the FTC.
Mortgage scams included property flipping, short sales, foreclosure rescues, reverse mortgage schemes, loan modifications, and credit enhan
Mortgage scams included property flipping, short sales,
foreclosure rescues, reverse
mortgage schemes, loan modifications, and credit enhan
mortgage schemes, loan modifications, and credit enhancements.
From the San Francisco Chronicle on August 1st, 2010: «The rules do not apply to secured debt such as
mortgages, although the FTC is working separately on rules to curb
foreclosure -
rescue scams.
Reverse
mortgages, property investment, and
foreclosure -
rescue offers are areas in which older people are prime targets.
In the context of real estate, financial elder abuse schemes can take many forms, including reverse
mortgage scams, property investment schemes, and
foreclosure rescue schemes.
As we all know, many former
mortgage brokers, title agents, and related professionals now specialize in
foreclosure rescue.
The Florida Office of Financial Regulation last year alleged that Deltona - based National
Foreclosure Rescue Center, Inc. was acting as a loan originator,
mortgage broker or
mortgage lender without a license as the firm represented homeowners facing
foreclosure.
In 2008, the
Foreclosure Rescue Fraud Prevention Act become Florida law and it makes it illegal for anyone (either an individual or a company) that sets itself up as in the business of «foreclosure rescue» or «mortgage loan modification» from getting paid until they've done the work shown in their deal with the Florida mortgage h
Rescue Fraud Prevention Act become Florida law and it makes it illegal for anyone (either an individual or a company) that sets itself up as in the business of «
foreclosure rescue» or «mortgage loan modification» from getting paid until they've done the work shown in their deal with the Florida mortgage h
rescue» or «
mortgage loan modification» from getting paid until they've done the work shown in their deal with the Florida
mortgage holder.
Importantly, these
mortgage loan modification and
foreclosure rescue companies can not make a deal with the lender that is blatantly unfair for the strapped Florida home owner.