Craig agreed to pay $30,000 and to share title on her house to a foreclosure rescue company. The company said it would use equity in her house to pay off her debts, and that her credit would be repaired. After a year she thought she’d get her house back.
The company’s agreement promises that clients have “sufficient equity in your home” for “paying off debt liability,” “repairing your current credit,” and most importantly that they’ll “remain in your home without further concerns or worries.”
It’s a classic foreclosure rescue scam, says attorney Debra Zimmerman.
“There should be a huge red flag for anybody who offers to do this for money, because there is no reason to pay for help,” said Zimmerman, of Bet Tzedek Legal Services. “Loan modifications can be done for free.”
Comments on this entry are closed.