If you are facing foreclosure be aware of those who are looking to take advantage of you.

The last thing you need when facing a hard personal situation like foreclosure is to meet up with those who would try and take advantage of you during your distressed situation for their own gain. Unfortunately this is happening across the State and the State of Florida’s Attorney General is fighting back to protect you from these unscrupulous individuals and companies.

In 2007 Attorney General Bill McCollum began the Mortgage Fraud Task Force to address the issues of mortgage and foreclosure rescue fraud. The Task Force is looking to take legal action against those companies who would mislead the consumer facing foreclosure. These companies will take upfront or advanced fees from the distressed homeowner promising to help them avoid foreclosure but the help never come.

The mortgage fraud website keeps a list of companies with questionable business practices that include:

• Not providing consumers with a copy of written agreements
• Falsifying loan applications and documents
• Misrepresent the company as being a government entity
• Misrepresenting the services that they had been paid to provide
• Refused to refund fees despite a money-back guarantee
• Charging fees up front before completing foreclosure rescue services, a violation of Florida’s Foreclosure Rescue Fraud Prevention Act

Do not fall victim to these practices. If you are facing foreclosure speak with your lender. Lenders have solutions in place to assist borrowers with catching up on payments, loan modifications or short sales that can ease the burden the homeowner is facing.

If you feel you have a complaint against a company that offered to help you avoid foreclosure you can call the Task Force hotline at 1-866-9-NO-SCAM.


Related Florida real estate blog posts about the Attorney General