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"We Buy Homes" See this sign? Be careful!

So, you're falling behind on your mortgage payments, fear the sheriff will come knocking on your door, and you pray for help. Suddenly, you see a sign on the road "We Buy Homes" or "Cash for your home" or maybe you get a phone call with some one who promises you a way to save your house. Please do not fall prey to skammers.

Although there are good people and good programs out there, there are also those who watch the paper or in some other way find out who is facing foreclosure. Read the following article and see what happens to people who ran into the wrong type of help.

MILLIONS AT RISK OF FORECLOSURE FRAUD

Posted by Natalie Langford, Winchester, VA Real Estate on 10/17/2008 10:20 PM

Comments (14)

Beware of Skammers in the Mortgage / Finance Channel

avoid foreclosure fraud

This post has been included in Virginia Information Frederick County, VA Information

14 Comments on "We Buy Homes" See this sign? Be careful!

OCT

2008

Natalie: Great advice--I see those signs out all over the place "We Buy Ugly..." etc. "Call 800..." Those are supposed to be illegal and if I could ever 'bust' one, I'd LOVE it!

OCT

2008

Natalie: It is so easy for homeowners who are so fearful of losing their homes to reach out and grab at anything that looks like it can help. Unfortunately... if it looks too good to be true... it probably is. Thanks for sharing.

Natalie - Sellers really need to be wary. There are many people who want to take advantage of them.

Natalie- Thanks for taking the time to post this good advice for people who are looking for help in a difficult time and might be taken unawares by a scam.

Thanks for your comments. I truly hope at least one person is saved from these skammers by clicking on the link to the article...

OCT

2008

I see these signs all the time. The old saying, if it sounds too good to be true, it's probably not true comes to mind.

OCT

2008

Hi Natalie: I heard from a guy yesterday who was involved in something like this. The "buyer" wanted him to transfer titlte into a trust and let her negotiate with his bank. Then, she planned to flip it. There are scammers are all over the places, just like cockroaches scrambling after bread crumbs.

NOV

2008

Natalie,

I have seen these "We buy homes" signs all over town. With alot of people getting behind on their mortgage payments for various reasons I sure hope they are doing their research prior to getting involved with some of the scams that are out there. Thank you for the link to the article..

Mike

NOV

2008

good info-- great poet -- thanks for sharing -- JE

NOV

2008

Natalie, that is such a sad story! And something like it happened to an elderly woman who lives in my neighborhood. The "We Buy Homes" guys are almost always scoundrels.

NOV

2008

Natalie, good lessons for the wise, go with someone who knows what they're doing!... There's no free lunch, they say.

DEC

I heard and read of many folks who lost their homes by falling for these types of scams.

JAN

Natalie, I see those signs all of the time. Amazing that people will fall for them....so, so many scams out there. Buyers/Sellers really need to be aware. ;-)

JAN

Shame on the people behind the scams, huh? They should spend their time being productive for society.

Thanks for all of your comments!

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