Where there is potential money to be made, there is a crook out there to take advantage of it.  As the foreclosure rate in Florida rises, predators posing as individuals who care are coming out the woodwork.  These predators entice homeowners with schemes of how they will rescue them from foreclosure, but they could care less about getting anyone from under their mortgage.  They are in the business of swindling the homeowners out of their money and in some cases the home they are alledgedly trying to save.  The scam artists focus their schemes on homeowners who have considerable equity in their homes.  They reach the homeowners via mailers, phone, email or through those signs you see in the right of way as you are driving down the road.  A common scenario is a fictitious buyback or lease-back option that involves signing over the deed to your home.  There is no reason why a person should need the deed to your home to get out from under your mortgage.  The reality of the lease-back or buyback option is the criminal will retain possession of your home and its remaining equity.

I am not saying that all of the people who state they can help you out of your mortgage are con artists because I certainly work with alot of legitimate investors who play an integral part in the housing market we are currently in.  I am just saying that you cannot trust everyone and that you must do your homework before agreeing to hand over your personal documents to a perfect stranger. 

Never let your guard down!

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