Mortgage and Foreclosure Scams

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Mortgage and Foreclosure Scams
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If you fail to pay your mortgage sums, you
may lose your home through foreclosure. Your
lender can use foreclosure as a legal means to
repossess your home. Seeking help from a mortgage
specialist is necessary in these situations.
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Most mortgage professionals are reliable and
offer a precious assistance by allowing you to
own a home without saving enough money to buy it
outright. But dishonest or "rapacious" lenders do
exist and engage in lending practices that
increase the chances that a borrower will lose a
home to foreclosure.
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Some foul practices are
Fake government rule change. Rent back or
rent-to-buy tricks. Refinance deception. Get
rid of your debts statement. Refinance scams.
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Fake government rule change.
These scams claim to be allied with the
government or require that you pay high fees in
line to benefit from government modification
programs. Keep in mind that you do not have to
pay any fees to partake in government-approved
programs. Some frauds may even use words like
"federal" or "government-approved" that make
consumers think they are associated with the
government.
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Rent back or rent-to-buy tricks.
In these types of scams you are requested to
pass on the title to your home "temporarily" to
the scam person who assures to get improved
financing for your mortgage and permits you to
stay in your home as a tenant with the option to
buy back the home. Then again, if you do not
fulfill with the conditions of the rent-to-buy
agreement, you will lose your money and be
expelled like any other tenant.
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Refinance deception.
The scam person presents to be a mediator
between you and your mortgage lender to discuss a
loan alteration. The scam person may even tell
you to make payments directly to him, which the
scammer will send to the lender. In spite of
this, the scam artist will not forward the
payments to your lender and you could still lose
your home.
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Get rid of your debts statement.
Certain firms possibly will put together fake
legal statements that you are not required to pay
back your mortgage or that they know of "secret
laws" that can get rid of your debt. Do not
believe such statements.
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Refinance scams.
In these types of fraud activity you will be
positively encouraged to sign "foreclosure
rescue" loan papers to refinance your loan.
Actually, you have submitted your possession of
your home because the loan documents are actually
legal transfer documents. You may incorrectly
think that your home has been saved from
foreclosure until you receive an eviction warning
months or even years later.
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Darrell Rigley, the founder of Distressed
Mortgage Solutions is highly recommended by
clients, he has mentored as a trusted source,
problem solver and a visionary. He is one of the
most popular Mortgage Audit Solution specialist.
Darrell Rigley is best in providing leverages
required to prevent the lenders from foreclosing
all your homes. He is currently the President of
TriMark Financial Solutions.
www.darrellrigley.com