Foreclosure Scammers use Down Real Estate Market to Profit from Hardships
By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
When there are people in trouble, there is almost always someone around to take advantage of them. Now, with an increase of foreclosures, we have a number of foreclosure scams starting or continuing to operate. Homeowners facing foreclosure should beware of foreclosure scams. Scammers can cause the homeowner to lose both the home and the equity they have built. Many scammers contact homeowners offering to "save" their houses. Property information is a matter of public record and fairly accessible by anyone interested in obtaining it. In addition to the information recorded with the county when the home was purchased, notifications of default filed by the lender or a lien holder or if the house is subject to an auction or to be foreclosed are all public record. Unfortunately, unscrupul...
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