Relief or Foreclosure?

Two years ago I wrote about mortgage fraud and ways to deal with it, but more people have been hurt since then and I would like to remind you to be vigilant.

When you are falling behind on your payments and somebody promises to dramatically reduce the amounts you have to pay monthly in exchange for a few fees and expenditures, you may feel you have to trust them, because this is your only chance to keep the roof over your head. Unfortunately, there are plenty of predators eager to benefit from your despair.

In one of the recent cases people lost almost 6 million dollars to the business with official and trust-inducing name of KATN. Its owners, however, used the money entrusted to them by anxious victims for their own pleasure and did not help a single homeowner. Swindlers promised  fast relief, told people to stop making their current mortgage payments and to only deal with KATN. As a result many hapless homeowners lost their homes to foreclosures.

Before giving your money to people or businesses you don’t know, always do as thorough check as possible about their reputation and existing complaints, as well as their history.

There are legitimate programs that you may be eligible for; check them out. Don’t let unscrupulous people exploit your desperation.