Foreclosure is one of the worst things that can happen to a homeowner. Knowing there are scammers waiting to feed on your fear and vulnerability makes the situation even more worrisome. Hundreds have fallen prey to phony foreclosure counseling, phantom help, bait and switch, rent to buy, and bankruptcy foreclosure scams. Being able to know the telltale signs of a foreclosure rescue scam can save you the agony and embarrassment of becoming yet another victim.

What should you look out for? Beware of any rescuer that guarantees or promises to save your home. You need to steer clear of any company that guarantees to end your foreclosure, tells you not to contact your lender, a attorney or credit and housing counselors, requires an up front fee before providing services, will only accept certified funds or wire transfers as payment, or instructs you to make your mortgage payment to them instead of your lender.

Bait and switch con artists outright take your property by coning you into signing papers that transfer the property deed or title to their company. Equity skimming scams steal the equity in your home while leaving you with your mortgage obligation. In the rent to buy scheme you are told to surrender the title of your home, but you will be able to remain in it as a renter. Although you have the option of buying it back, generally the terms are so outrageous it is impossible to do so. Avoid any company that instructs you to sign over the title or deed to your home.

Staying calm and not reacting under pressure is the best thing you can do. Con artists will often offer to fill out paperwork for you. While you think they are giving a rescue loan for you, in actuality, they are taking the cash youve given them, filing a bankruptcy in your name and stealing your property. Do not sign anything that you are unsure of or dont understand, and never allow any company to fill out papers for you.

Knowing where to turn is your best defense. You should start by phoning your lender and trying to make a payment plan. Also, the FTC offers free info that helps consumers recognize and avoid crooked, deceptive and unfair business practices. If you feel you have been the victim or a foreclosure rescue scam you can file a complaint at the FTC website.

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• Foreclosure Scams You Want To Avoid
• What Are The Most Common Foreclosure Scams
• Don’t Loose Your Home To A Foreclosure Scam.
• Ways To Avoid Scams When Trying To Do Loan Modification
• 3 Tips To Help With How To Avoid Foreclosure That Could Save Your Home