ABC News recently presented a good segment on avoiding foreclosure rescue scams. There are two types of common scams; the first is where a firm charges you hefty upfront fees to negotiate with your bank and then promptly disappears while doing nothing. The second is where the firm buys your house for below market value, and leases it back to you on unfavorable terms. Eventually the former homeowner can not keep up with the rental payments and is evicted, leaving the firm owning the house.
Catch the ABC News clip:
http://cosmos.bcst.yahoo.com/up/player/popup/?rn=3906861&cl=7408730&ch=4226721&src=news
Hello,
ReplyDeleteI thought your readers might be interested in
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Joseph Ryan
Washington Research Associates Inc