Foreclosure rescue scams.
I am a practicing attorney in Southern California. My practice is dedicated to representing consumers in areas of
predatory lending. I just wanted to share some information regarding the pluthera of "foreclosure consultants" that are sprouting up now with the current market.
Many of these so-called consultants or experts are anything but. Often times, they will convince desperate homeowners to transfer the title of their property to them. This is not only unethical and likely illegal, it is also a very bad idea. Foreclosure is a scarry thing, but there are laws that can protect homeowners. One such law is the
Truth In Lending Act. This Act can be raised as a defense in a foreclosure proceeding and has very powerful relief available to homeowners. Talking to a qualified attorney is an extremely prudent thing to do. If nothing else you will get answers to your questions.
Another warning i have is regarding the false information promoted by the lenders. Homeowners are being told that in addition to loosing their home, they can be sued for the difference between what they owe and what the house sells for at the auction. This is almost always untrue. Get the facts. This is too big of an issue to handle without seeking competent legal advice.
Lastly, the internet is also a great resource but it does not have a "truth filter" built into it. Don't assume what you read is true. Sometimes information online is only applicable to a local area. Browse responsibly!
Best Regards,
Nathan Fransen