The opinions expressed in these blogs are solely those of the people who wrote them, and do not represent the views of WPSU or Penn State University.

Housing Crisis

Foreclosure Scams

Posted by Cathy Faulcon Bowen on 08/11 at 09:21 AM

“Kick them while they are down” may be the motto for scammers who try to profit from homeowners’ misfortune when a foreclosure is starring them in the face.

Anyone about to lose their most valuable material possession, a home, MIGHT do anything to keep it. If an advertisement for keeping your home out of foreclosure sounds too good to be true, it probably is. 

Two signs that a company is trying to fatten their purse while making yours leaner are: (1) They ask you to pay a fee BEFORE any work is done and (2) They guarantee that they can stop the foreclosure.

When should you walk away from a potentially dangerous situation? Listen to stories of real people who avoided scammers and learn more about foreclosure rescue scams on Money Matters.