Foreclosure Scams

Whenever the number of foreclosures goes up dramatically, so do the number of foreclosure scams. There is always someone out there trying to make a quick buck without considering the harm that it could cause.

The best way to avoid becoming a victim of a scam, is to use common sense. The age old adage still applies: "if it's too good to be true, it probably is."

Keep in mind that many of these ideas seem legitimate and can be legitimate, but the scam artists will add a special twist to them to turn it to their advantage.

Another thing to watch out for is a bunch of amateur investors who've been told in a 3 day class that they can become millionaires in the foreclosure business. Although, most of them mean well, you need to be vigilant, because your home and money are at stake.

Now here's a list of some of the techniques which should raise a red flag:

The "save your credit" scam

The "phony foreclosure counseling" scam

The "declare bankruptcy" scam

The "Sign your house over to me" scam

The "I'll buy your house and lease it back to you" scam

The foreclosure bailout scam

There is a video on Youtube that lets you know what to expect once your home's foreclosure becomes public information.
Click on this link to see the video.

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