Mortgage Rescue Scams

First, how does the scammer make money? The scammer makes money by convincing you to pay them money, under the promise they will negotiate and pay your mortgage or bills. The scammer never negotiates or pays any bills. The scammer takes your money and leaves in deeper dept then when you started.

Mortgage rescue scams have become pervasive as millions of homeowners scramble to find a lifeline for their home. This sickening but true reality means you have to be extra careful not to fall for any of the mortgage rescue scams.

First and foremost, do not fall for the countless e-mail scams out there. If they are contacting you by email avoid them. You should find the company to help you with your mortgage problem. They should not be hunting for you. Also, a web search will reveal a large number of unscrupulous companies trying to steal your hard earned money. The following steps will help you weed out the good from the bad.

How to Avoid Mortgage Rescue Scams

First and foremost, if you are trying to avoid mortgage rescue scams it is important that you use common sense. If something sounds fishy or too good to be true it probably is. Ask questions such as: Do you let my bills laps, or will my payments continue to be paid on time? Make sure you do some homework and it starts with a Google search.

Any company you are considering to help you with your mortgage should be researched by you. Do a Google search for the company name and read anything that comes up about them. There are a number of blogs and forums on the net that are specifically designed to help people identify and avoid mortgage rescue scams and other scams.

In addition to doing some online research you should also contact the Better Business Bureau and make sure the company is registered and find out if they had any complaints. It is typically a good idea to work with companies licensed in your state, so find out about licensing and contact the licensing board in your state as well.

Avoid Scams by Getting Everything in Writing

If you are trying to save your home it is important that you ask for everything in writing. Do not rely on the honesty and integrity of someone you never met. Do not trust what you hear on the phone. Get everything in writing and make sure you read every word of the document. If you do not understand what you are reading make sure you get professional assistance.

If you actively and aggressively protect your interests you can avoid most scams. Taking the easy way out and ignoring warning signs is the fastest way to fall prey to the countless scam artists offering mortgage rescue schemes.

This article is intended for general information. Always seek sound financial and legal advice before making any financial decision.

Author Bio: Helpful mortgage information at Online-Home-Mortgage.net P. Payne works for OHM Mortgage and Foreclosure Information Site providing answers to all those questions people need to know.

Category: Finances
Keywords: mortgage,rescue,scam,online,fraud