Beware of Foreclosure Scams
Printer-friendly versionHere's some tips that may help you to NOT become a victim of foreclosure scams, beware if your contact:
- Asks for money upfront before providing service
- Instructs you not to contact your lender, lawyer, housing counselor, family, friends, or others
- Asks for mortgage payments to be made directly to his or her company or a bank account set up by that person, rather than your lender.
- Requires payment only in the form of cash, cashier's check, or wire transfer
- Promises to stop the foreclosure process, no matter the circumstances
- Advises you to transfer your property deed or title to his or her company
- Offers to fill out paperwork for you
- Asks for something to be done immediately and without delay. This includes pressuring you into signing paperwork that you have not had the chance to read thoroughly or do not fully understand
- Encourages you to lease your house and buy it back over time
- Asks for you to give them a power of attorney
- Asks for signatures on a grant deed or deed of trust
- Asks for signatures on a document that has lines left blank
- Fails to provide copies of signed documents
- Refuses or fails to put an oral promise in writing
For additional information on foreclosure scams and what to do if you suspect foreclosure
mismanagement go to: http://www.dre.ca.gov/faq_loan_foreclosure_fraud.html
