Foreclosure rescue scams prey on the most vulnerable Ohio consumers – those facing foreclosure. Learn how to spot a scam and how to report it.
Types of Scams
“I can help you”
It’s a scam if someone asks you to:
Give him or her cash to “negotiate” a loan modification for you.
Ignore your lender’s phone calls.
Ignore your foreclosure case.
Not contact an attorney.
These scammers take your money and do not call your lender.
“Let us review your documents for $1,000”
These scammers ask you to send them money so their “experts” can review your file.
This is a scam. They will send you a fake document that was supposedly filed in court, though no document was ever filed.
“We will deed your house and you can rent it back”
These scammers ask you to turn over the deed to your home to them and they will pay the mortgage. Then you can rent it back from them until your credit improves and you can buy your house back.
These scammers do not pay your mortgage. When the foreclosure case ends, you will be evicted. In another version, they pay your mortgage, then raise your rent and evict you.
Either way, you lose your home.
“We work for the government”
These scammers tell you that you can pay for access to “government bailout funds.”
Government money only goes to non-profit housing counseling agencies; these scammers will take your money and do nothing to help you.
How to get real help
Never pay a fee for help with foreclosure.
Get help for free by contacting Save The Dream Ohio at (888) 404-4674.
Get promises in writing. Read the fine print. Understand what you sign.
Never sign over the deed to your home unless you are selling it.
Never give out your Social Security number or other personal information.