HIDDEN MONTHLY FEE�S

Beware of cunning and scrupulous attorneys or modification program consultants, that have hidden clauses buried in the fine print that require a certain % of savings, as high as 30% as an example, if they successfully modify your mortgage to a lower payment. You should only pay one fee--otherwise you could be forced to pay potentially hundreds of dollars a month for the life of the loan. Always read the whole contract in full or have a professional, Attorney assist you.

FORECLOSURE RESCUE SCAMS

As property values continue to decline across the country, fraudulent �foreclosure consultants� (con artists) target homeowners who are behind on their mortgage payments. Here's what you can do to avoid becoming a victim:

1. DO NOT pay your mortgage payments to someone other than your lender, even if they promise to pass the payment on to the lender. Fraudulent foreclosure consultants often keep the money for themselves and disappear.

2. DO NOT sell your house or transfer he title to the �foreclosure rescuer�. These fraudulent foreclosure consultants often promise that if you transfer the title to them, you may stay in your home as renters and buy it back later. This is a common scheme used to evict homeowners and steal all or most of their home's equity.

3. DO NOT sign any documents without reading and understanding them first. If the document is too complex, seek advice from a lawyer or an approved, trusted financial counselor. Never sign documents with blank spaces that can be filled in later by the other party or one that contains errors or false statements, even if someone promises to correct them later. Get promises in writing and keep copies of all contracts you sign. Many homeowners think that they are signing documents for a new loan to pay off the mortgage they are behind on. Later, they discover that they actually transferred ownership to the "foreclosure rescuer".

If you think this may have happened to you, you may be a victim of a crime and need to file a complaint with your States' Attorney General's Public Inquiry Unit. Reporting con artists and suspicious schemes helps prevent others from becoming victims.

Many fraud abuse cases start out as free consultations by �counselors�. Do not give out your personal information to other. 

BANKRUPTCY FRAUD

There are several scams circulating that are abusing the bankruptcy laws. For example, a con artist may offer to obtain refinancing or negotiate a payment plan with your lender and even may even file a bankruptcy case in your name, without your knowledge, as a part of the scam.

In another kind of scam, a con artist may ask you to give a partial interest in your home to one or more persons. Each holder of a partial interest can then file bankruptcy, one after another. The bankruptcy court will issue a �stay� order each time to stop foreclosure temporarily. However, the stay does not excuse you from making payments or from repaying the full amount of your loan.

If you think this may have happened to you, you may be a victim of a crime and need to file a complaint with your States' Attorney General's Public Inquiry Unit. Reporting con artists and suspicious schemes helps prevent others from becoming victims.

Many fraud abuse cases start out as free consultations by �counselors�. Do not give out your information to other. 

REFINANCE FRAUD

Beware of people posing as mortgage brokers or lenders and offering to refinance your loan so you can afford the payments. Con artists will trick you into signing documents for a new loan and but in fact you are signing over the ownership of your home. Always read and understand reading of all documents give to attorney subject to attorney approval.

If you think this may have happened to you, you may be a victim of a crime and need to file a complaint with your States' Attorney General's Public Inquiry Unit. Reporting con artists and suspicious schemes helps prevent others from becoming victims.

Many fraud abuse cases start out as free consultations by �counselors�.

By: TAD45.com

Dan Humphrey

I will see you at the top!