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Do Not Become the Victim of a Foreclosure Scam

Posted by David N. Holland | Dec 12, 2019 | 0 Comments

One of the problems homeowners may face when their bank or lender publishes an official notice that foreclosure proceedings have begun, is they may fall victim to dishonest individuals or companies who will attempt to involve them in any number of foreclosure scams. We understand how frightening it can be when you are unable to maintain your mortgage payments and your home has fallen into foreclosure. We also know that most homeowners would do almost anything in order to save their home and stop such proceedings from moving forward.

Falling victim to a foreclosure scam could, however, potentially worsen your financial situation rather than improve it. A common foreclosure scam to look out for is when an individual or company poses as a genuine lender offering a low mortgage rate, when in actual fact their true intention is to steal your personal and financial information so they can use it in an fraudulent manner. Another scam is when a legitimate lender attempts to take advantage of your unfortunate financial situation by offering you a seemingly low interest loan with a balloon payment at the end. While such offers may appear to make sense, if you fail to make your balloon payment, you will end up losing your home. Another lender you should stay away from is any lender who tries to convince you to falsify your income, or any other aspect of your loan application. Doing so could not only put you at risk of losing your property, but you could face charges for mortgage fraud.

If your home is currently in foreclosure, or you believe foreclosure is imminent, our firm can provide you with the legal advice you need to help you protect your assets and interests. With more than 20 years experience representing clients facing all manner of foreclosure and bankruptcy scenarios, our attorneys have the knowledge and expertise you need to if you hope to avoid foreclosure scams and ultimately retain possession of your home.

Contact an Attorney today at the Holland Law Group

About the Author

David N. Holland

David Holland grew up in the Hanover, Littlestown and Gettysburg area of Pennsylvania and moved to Sarasota in 1997. He received a Bachelor's Degree in Finance from the University of South Florida in 2005 and a Master's in Business Administration from Stetson University in 2008. In the summer of ...


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