Foreclosure Scams: Beware the Kindness of Strangers
Foreclosure is one of the most intimidating threats a homeowner might face in his or her lifetime. Once an individual falls behind on mortgage payments, a river of frightening letters, phone calls and legal notices are unleashed upon the cash-strapped debtor. These communications portray a sense of great urgency, they might describe impending legal action, acceleration of debts, eviction, an upcoming forced sale of one’s home and the possibility of personal liability for mortgage debts. Some of these communications, such as notices of default and notices of trustee’s sale, are made public, thereby stoking a sense of embarrassment and isolation in their recipients. People targeted by such communications are typically already in financial distress and constant threats can push them to sheer desperation. Isolation, desperation and a sense of urgency set the stage for a parade of characters far more dangerous than the prospect of foreclosure. “Foreclosure consultants,” “foreclosure prevention specialists,” “foreclosure experts” and a variety of other self-styled titles describe a group of individuals who make...
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