Foreclosure Rescue - THREE BASIC SCAMS - BEWARE
The FBI has identified three basic scams.
“It’s pandemic” said Steve Dibert, president of MFI-Miami, a firm that conducts forensic mortgage audits and fraud investigations.
Dibert estimated that up to 250,000 people have been scammed. The FBI did not confirm those numbers but noted that the numbers of scams and scam artists is booming.
According to the attorney general’s offices in states like California and Florida, the fraudsters operate all over the country. At least one firm being sued by California, First Gov, is based in Mexico, according to court papers.
To avoid being scammed, the Consumer Warning Network advises consumers to avoid paying for services up front.
- In “phantom help,” supposed mortgage rescuers make off with cash meant to rework a mortgage.
- The “bailout scam” entails homeowners surrendering a house title to a con artist on the promise that they can stay on as renters and, once the mortgage fees are “fixed,” repurchase their home.
- In the “bait and switch,” scammers dupe homeowners into signing what they think is a new loan but, in truth, are forged documents ceding their house to the crooks.
“It’s pandemic” said Steve Dibert, president of MFI-Miami, a firm that conducts forensic mortgage audits and fraud investigations.
Dibert estimated that up to 250,000 people have been scammed. The FBI did not confirm those numbers but noted that the numbers of scams and scam artists is booming.
According to the attorney general’s offices in states like California and Florida, the fraudsters operate all over the country. At least one firm being sued by California, First Gov, is based in Mexico, according to court papers.
To avoid being scammed, the Consumer Warning Network advises consumers to avoid paying for services up front.
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