The government is warning the general public again of foreclosure scams. The federal reserve board has compiled some tips to help protect consumers from becoming victims. It is very important for the homeowners to know that housing counselors and other resources are available at no or low cost to those families that have fallen behind in mortgage payments.
Foreclosure still is not guaranteed, regardless of the circumstances, but working with a legitimate counselor can increase the chances of keeping a home. Homeowners should be very wary is they are told is "is a sure a thing".
Solicitors of foreclosure schemes reach out to potential victims using the internet, the telephone and direct mailings. You may even see some door to door solicitors approaching homeowners. Only talk with verified counselors from the bank/mortgage company that holds the loan.