Beware Of Foreclosure Rescue Scams From Non-Attorneys
I have blogged on this topic before but it appears to be a continuing problem nationwide. Too many homeowners misplace their trust with unlicensed and unregulated rescue companies. These companies promise the world, offer incorrect legal advice (or omit the parts of the law that they don’t understand or cannot assist with such as litigation defense and bankruptcy), practice law without a license, and sometimes commit outright scams to steal equity. The companies have innocent sounding names and appear to be quite helpful to the layperson but the consequences of dealing with them are often disastrous. New York State was so concerned about this that it passed the Home Equity Theft Prevention Act in 2007 which placed strict limitations and requirements on certain types of foreclosure rescue transactions.
If you want to read my past posts on rescue scammers, use the “Find” tool on the right side of this page and search under “rescue.”