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Avoiding Fraud

I want to see that this video get distributed to the widest possible audience. This was just released from Freddie Mac. Very short and well done. A great follow up on My post earlier this week about not talking to strangers.

When people's homes are threatened and they become desperate they sometimes seek help in the wrong places. Here in Minnesota we have some excellent resources. Remember that taking action as soon as possible it best. The longer the home owner waits the fewer the options.

Resources: 1-888-995-Hope.
They have a web site too: http://www.995hope.org/ The home ownership center's foreclosure program. Also try Acorn.

Posted by Teresa Boardman on 12/14/2007 11:25 AM

Comments (44)

forclosure, help

This post has been included in Minnesota Information

44 Comments on Avoiding Fraud

DEC

2007

I'll have to admit that I didn't watch the video. No speakers connected.

However, Minnesota just about tops the list of home owners in trouble due to predatory lending. Any help the home owners can get can only be a good thing.

Lenn - not a pretty picture. People call for help when it is too late to do anything. I hear a lot of sad stories.

Helping to spread the word...

Posted on my outside Forclosure blog: HERE

I'll copy that also here in AR for additional exposure. Oh and here's a slightly different version here aimed at Predatory Lenders. While it's too late for many of their targets in the refi arena, they've now moved into the foreclosutre and reverse mortgage markets.

Thanks Mike. I am promoting it through twitter, I am afraid no one will see it on Active rain except other agents. Mostly posts about Active rain get action here.

I put it on The Foreclosure Report as not only does that get the highest keyword traffic but it really speaks to everyone of it's readers.

BTW: I think we have much the same view of who reads the stuff here on AR.

Great Video...Thanks for sharing. This is a great one to send out to anyone who is having a rough time right now. Wish they would do a commercial during the news to reach more desperate people.

Thanks Theresa, good information and I will pass it along to the agents in my office.

I watched....and it sure was powerful. Yup...needs to get out there.

I need to come back and watch this when I get home, no speakers at work:-( Thanks for this Teresa and I'm glad it will get attention.

Thank you!

This will be a great video to post on my local Silver Spring outside blog.

This is great information to get out to the public. Thanks.

wow T. featured... "Good post thanks for sharing it." really, really I should post it on one of my real blogs and truly it is a good post but it being featured today is funny.

See you around...

I was beginning to think this was just a West Coast Con/Fraud. Looks like it's happening everywhere. I'd love to see some of the people who are perpetrating these go to prison, and have it be splashed all over the news. I'd also like to see some of the morons that are holding these 'how to buy distressed property' seminars and charging people money to teach them to commit these crimes get prosecuted, too. Afterall, if you held a seminar on how to perpetrate identity fraud, wouldn't you get in trouble? I can't see how this is any different.

Who ever featured this thanks. I am trying to get the word out. People are getting hurt by foreclosures, when they become desperate they ask for help. In doing so they talk to the wrong people some times and they say too much about their situation. There are people in our society that try to get ahead by taking advantage of the misfortunes of others and they need to be stopped. I just wish everyone would read before signing on the dotted line, that would help too. I have heard so many stories.

Foreclosure scams are an important topic. I wrote a post on an article from an Executive Director of the BBB on how to avoid the scams. First and foremost, homeowners need to connect with their mortgage company and not a third party who might take their money and run.

I will be sure to watch the video you recommend. Thanks.

Great video...it would be great to see this short video on the local evening news.

Gee, why do people sign the papers without reading them? If you don't know what you're signing - don't sign it. It's as easy as it sounds. Geeee....

I guess these people are everywhere. But I sure see a lot of it here.

Thanks for posting this! There are far too many of these slick talkers out there taking advantage of people that already have a lack of confidence in their situation.

Geez, that's scary. And people in a tough position will want to believe someone who says they can help. Instead things are only made worse. I'm glad you posted this and glad it was featured. I hope the people who need to see it most will see it!

Thanks Teresa, posted it on LBREH

Thanks for the post. It is very unfortunate that things can be made to appear helpful, especially to someone in a tough situation, that in fact are so detrimental.

Thanks for sharing this most sleazy practice.We have this type of fraud all around and also in my area.I'll try to spread the word around."Never sign anything without legal advice".

Everyone else already said it, but thanks. This is really scary, I'm sure there are plenty of people who would fall prey to something like this.

Thanks Teresa, I sent it out to all of our KW agents through the intranet. I'll post it on my outside blog later tonight.

Teresa...

This was like a 'whoa' moment for me.

I hope more member's will do what Laurie did with it.

Posting on outside Blogs will certainly help get the message out there.

TLW...ROAR!

TLW - it is on my outside blog and I have been promoting it through twitter all day. My goal is to get it on as many blogs as possible.

Yes people do sign without reading. I had one couple that didn't bother reading there mail. They gave me a letter to read, I had to open the envelope becasue they hadn't yet. It was October. According to the notice their home had been sold at a sheriffs sale in June. They had two month left on their redemption period. It got complicated. They lost their home. I was able to get them senior housing.

Thanks for the video. I hate to see people in trouble get scammed. The scammers have theirs coming to them.

That is very sad & happening more & more frequently. Especially when the owners no longer care.

Unfortunately there are always those who want to take advantage of the unsuspecting and desperate homeowners. I posted a blog today about the FBI taking a closer look at Northern Virginia and mortgage fraud. There are going to be more stories like this until HUD and a few others get a handle on what happened and why.

Hi Teresa - I'm glad to see this video here, and that it got featured. I had heard about this video from someone earlier today, but had not yet gone to look for it. I'm going to put it on my outside blog as well.

Thanks for bringing to our attention, and I really hope more people who need help will see it through one of our many blogs and seek the legitimate help they need.

Ann

i really believe we need to keep eudcating the public. I have seen this more that once and again i believe that we should keep this out there over and over for the public to get a chance to see this so it does not happen to them.

these scams are everywhere. i mean who hasn't posted a property for sale online and not received an email from some "lawyer" or "banker" from uganda asking to "buy your property for sale for full asking price".

OK, even admitted I'm in real estate and added it to the Scoop.

There should be a special place in hell for people like this. Even when the consumer bears some responsibility for signing without understanding, this is truly the lowest of the low: to take somone's home.

Thank you for sharing the video.

As most of us know, if you are facing foreclosure, it is best to contact your lender immediately, or even if your just late on your mortgage payments, contact your lender, as they might have a solution. If your lender is unable to assist you, it is best to obtain legal advice from a qualified licensed professional.

Teresa -- good for you writing this blog and getting the information out to those who are most at risk of being harmed. It is important that consumers are aware of how to protect themselves.

I have to admit... I did NOT know this wa happening!

There is another way for people to do harm. When a home has no mortgage owed. (This happened to me 18 months ago.) My renter went to the county record office and forged names on a Quit Claim Deed putting the house in her name. Then went to a mortgage company and borrowed over 130,000.00. NOTE: The notary was in on the scam!

After going to pay the taxes on the home I found that the house had been stolen. When confronted with the situation she (the renter) stopped making payments. I had to pay close to 20,000.00 in attorney fees to stop foreclosure and 30,000.00 to rebuild the house.

Mortgage Company went back on the Title Insurance Company and the renter walked away with good credit.

I filed charges with the Assistant States Attorney December 8, 2006. On December 15, 2007 the renter was arrested for Forgery, 3^rd Degree Felony and 2 counts Grand Theft.

If only people could be made aware of these scams. I had no idea this would or could happen. I only hope that the video and other scams could be used to warn homeowners.

This happened in Osceola County Kissimmee Florida