Foreclosure Rescue

Know Your Rights

The Bureau of Consumer Protection works to protect consumers against unfair, deceptive, or fraudulent practices in the marketplace. The Bureau conducts investigations, sues companies and people who violate the law, develops rules to protect consumers, and educates consumers and businesses about their rights and responsibilities. The Bureau also collects complaints about consumer fraud and identity theft and makes them available to law enforcement agencies across the country. Source

Foreclosure Rescue Scams

Red Flags

If you’re looking for foreclosure prevention help, avoid any business that:

guarantees to stop the foreclosure process – no matter what your circumstances

instructs you not to contact your lender, lawyer, or credit or housing counselor

collects a fee before providing you with any services

accepts payment only by cashier’s check or wire transfer

encourages you to lease your home so you can buy it back over time

tells you to make your mortgage payments directly to it, rather than your lender

tells you to transfer your property deed or title to it

offers to buy your house for cash at a fixed price that is not set by the housing market at the time of sale

offers to fill out paperwork for you

pressures you to sign paperwork you haven’t had a chance to read thoroughly or that you don’t understand.

If you’re having trouble paying your mortgage or you have gotten a foreclosure notice, contact your lender immediately. Source

For More Information

To learn more about mortgages and other credit-related issues, visit www.ftc.gov/credit and MyMoney.gov, the U.S. government’s portal to financial education. Source

Very Slight Importance

Foreclosure Rescue

Information you need to know

Know Your Rights