Copyright 2007 found at nbc4.com.
2/5/2007 11pm
This is a story about theft, theft of homes through Foreclosure Rescue Scams.
And this theft steals both your money and the roof over your head.
I mean they just pull you in almost like a drain can suck you on in. And, I
mean, they're good.
RUTH BOWIE IS TALKING ABOUT THE CON MEN WHO ALMOST STOLE HER HOME.
BOWIE OWNS THIS HOUSE WHICH SITS ON A LARGE PIECE OF PROPERTY IN OLNEY,
MARYLAND. BUT SHE FELL INTO FINANCIAL TROUBLE IN NOVEMBER, 2005 AND FAILED TO
PAY PROPERTY TAXES. SO HER HOUSE POPPED UP ON A FORECLOSURE LIST. THEN, JUST
BEFORE THANKSGIVING, SHE WAS ON THE PHONE WITH HER MORTGAGE COMPANY WORKING OUT
PAYMENT ARRANGEMENTS...
And Joe knocked on my door.
Who's Joe?
I guess he was Superman supposed to tell an angel to come and have to save
me, but in the process, you know, he just scammed me.
ACTUALLY JOE WAS A CON MAN WHO PROMISED TO HELP BOWIE AVOID FORECLOSURE. ALL
SHE HAD TO DO WAS SIGN SOME PAPERS... MANY WERE ACTUALLY BLANK...AND THEN REPAY
JOE WHEN SHE COULD. BUT UNBEKNOWNST TO BOWIE, THE PAPERS SHE SIGNED SOLD HER
$500-THOUSAND DOLLAR HOUSE TO JOE AND HIS PARTNER FOR NEXT TO NOTHING. SO HOW
COULD THAT HAPPEN?
We're desperate, and we feel we don't have any other place to go.
CONSUMER ATTORNEY SCOTT BORISON SAYS CON ARTISTS LIKE JOE USUALLY APPEAR A
FEW DAYS BEFORE FORECLOSURE CARRYING A SMILE AND A HANDFUL OF PAPERWORK.
Sign here, sign here, sign here. You know we don't have time. Your
foreclosure's happening. We need to get this done.
And what's really happened?
What's really happened is they've signed a deed to their house.
WHAT'S MORE, CONSUMER LAWYERS ACROSS THE COUNTRY REPORT THE SCAM IS GROWING
RAPIDLY BECAUSE CROOKS SMELL HUGE PROFIT POTENTIALS.
These are confidence games. They're building your confidence. EXPERTS SAY
BEWARE THE RED FLAGS OF FORECLOSURE RESCUE SCAMS. THEY INCLUDE ROADSIDE SIGNS
SAYING WE BUY HOMES. PEOPLE WHO SOLICIT YOUR BUSINESS DOOR-TO-DOOR. REFUSAL TO
PUT TERMS IN WRITING.. AND ANYONE ASKING YOU TO TRANSFER YOUR DEED.
SCOTT BORISON SAYS YOU SHOULD CONSULT AN ATTORNEY BEFORE SIGNING PAPERWORK
RELATED TO YOUR HOME...OR AT LEAST READ EVERYTHING BEFORE YOU SIGN.
RUTH BOWIE WISHES SHE HAD.
Stop before you put that John Hancock on there. Stop. And pay a little more
attention than I did.
Foreclosures increased 42-percent in 2006 to 1-point-26 million foreclosed
homes. Companies that track foreclosures say of that number, thousands of people
fell victim to foreclosure fraud.
Copyright 2007 found at nbc4.com.
2/5/2007 11pm
“There’s so much inventory out there that the buyer can pick and choose,” said Susan Sirles Fidler, a Realtor at Re/Max 10, Oak Lawn. But she cautioned, “The stuff that’s almost free is almost free because it’s going to cost you an arm and a leg to put it back together. It’s not buyer beware as much as buyer be smart.”
