Mortgage Fraud: Don’t Become a Victim – Part 2

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Experiencing Financial Difficulties?

Perhaps you’re a homeowner who’s struggling to make ends meet, and that includes meeting your mortgage repayments: be very wary of web-based advertisements or emails claiming they can eliminate your mortgage debt: they’ll offer to do all the paperwork for you and all you have to do is pay an up-front fee. This is a scam!

mortgage fraud

Maybe you’ve been told by your bank or other lender that you’re facing foreclosure: if this is your situation, don’t be fooled by any of the schemes out there, including one whereby the perpetrator of this scam convinces the homeowner to temporarily sign over their house deed; for a fee of course! The reason this is a scam is because what follows is that the perpetrator sells the house from under the owner (you), so besides losing your house you also lose your up-front fee. If you’re at all unsure if something is a scam, or not, before you do, say, or sign anything at all that might be considered legally binding, contact George Russo and Associates and we’ll take a look at it for you. Don’t take any chances at all because, if it sounds too good to be true, it probably is!

Contact Your Lender Immediately

So, what should you do if you find yourself in financial difficulty? Agent Broshears says, when you realize that things are getting harder and harder financially, contact your lender before things become totally out of hand. It’s important to remember that the bank or other financial lender doesn’t want your house, and most will work with you to ensure you get to keep it. In addition, they’re already dealing with many homeowners who are going through the foreclosure process – people who didn’t ask for help in time – so they’re certainly not looking for another case. Be proactive, because your lender would rather not go through a foreclosure and take your home away from you.

mortgage fraud

The FBI is continuously investigating mortgage fraud, and has made this crime one of their priorities. But the public can certainly be of assistance too; by letting their local FBI field office know what’s occurring. It would make their job much easier, plus you could be saving yourself a whole lot of heartache.

George Russo & Associates Are Here to Help

When you’re stressed or worried, particularly about financial issues, it’s very easy to make decisions on the spur of the moment; decisions you learn to regret later. Don’t be rushed into anything: be very clear on your legal position before taking any action at all and contact George Russo & Associates for expert, professional advice on your legal obligations. If you’re in the Queens, Brooklyn, or New York City areas, let us do the worrying for you: we can check your documentation and ensure you’re rights are being protected.

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