Do not fall victim to fraudulent, deceptive or unfair foreclosure rescue consultants. If you are in danger of losing your home and are contacted by or you have contacted a company that claims they can rescue you from foreclosure, know your rights.
There are laws in place created to protect distressed home owners from unscrupulous companies. I would strongly suggest you contact an attorney before signing any documents you do not fully understand. You can also review the laws pertaining to foreclosure rescue including Florida Statute 501.1377 Violations involving homeowners during the course of residential foreclosure proceedings.
One important component of the law is that rescue companies and consultants are not allowed to collect payments upfront. The law clearly states:
(b) Solicit, charge, receive, or attempt to collect or secure payment, directly or indirectly, for foreclosure-related rescue services before completing or performing all services contained in the agreement for foreclosure-related rescue services. (bolding mine)
If you are concerned about a company you can visit the Florida Attorney General mortgage fraud site to find a list of those with questionable business practices. You can also visit the HUD website to find local information on how to avoid foreclosure.
Photo credit: Vorstius
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