Foreclosure Scams

When you fall behind the lender files a Notice of Default with the County Recorders Office.
Your private discomfort just became public information.
This information is now available to both ethical people who specialize in helping you, and the others.

Rule Number One:
Never, Never, Never, sign over the Deed of Trust to anyone!

The Deed of Trust is the pinkslip to your home.
Sign the Deed over to another person and they now own your home.
This has nothing to do with your mortgage, you still own the mortgage - just not the home.

Scams come in many different forms. If something sounds too good to be true - see Rule Number One.

I'll illustrate just a couple here.









Scam #1: "The Benefactor" Scam
Scam #2: "The We Pay Cash For Houses" Scam.

The question always comes up - Are these Legal?

Yes and No.

They steal your equity away using legal methods.

That doesn't preclude that the entire transaction is legal - Fraud, Strawbuyers, and Falsified Documents are all too common in this arena.