Foreclosure Prevention Scams

[flip_it_fast]

As usual there are more and more scams coming to the surface and these are ones you should all definitely be aware of.

Foreclosures are still happening at alarming rates ands some people will believe anything they are told in order to try and keep their home.

Avoid anyone or any companies who seek up front fees.

Avoid anyone who guarantees that they can stop the foreclosure. No one can actually guarantee that.

Avoid anyone who tells you to stop paying your mortgage and to pay them instead.

People really are falling for these scams and it's a real shame.

"[For scam artists,] the all time high foreclosure rate is an opportunity in the same way that pushing toxic subprime loans was during the housing boom," said Bernell Grier, CEO of Neighborhood Housing Services of New York (NHS), a NeighborWorks affiliate.

From October through the end of April, community development groups handled more than 10,000 reports of foreclosure-prevention scams, according to Susan Jouard, a spokeswoman for NHS.