Celeste Barr
Phone:
847-381-9500
Mobile:
847-321-1126


Fax:
847-818-8846
Email

Office:
Barrington
600 Hart Rd. Suite 105
Barrington, IL 60010

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Avoid “Mortgage Rescue” Scams
 

For a homeowner facing the frightening threat of possible foreclosure, the offer seems too good to be true. A “mortgage rescue” company steps forward, claiming to be able to help you save your credit and your home.

In some cases, the “mortgage rescue” company provides phantom help offering to work as an intermediary with lenders, collecting an up-front fee for services it never provides or that homeowners easily could have done on their own for free.

In other scams, the “mortgage rescuer” may offer to pay off the delinquent loan and allow homeowners to stay on as renters, with the possibility of buying the home back later. But the scam artist doesn’t make the payments and the homeowners, who have signed over their deed, end up losing the home and any equity they had in it.