Avoiding Foreclosure Scams

As many people are struggling to keep their homes out of foreclosure, there are some who are desperate enough to fall for even the most blatant scams. In 2010 nearly $31 million in homes and/or fees were lost to scam artists promising to keep people out of foreclosure.

To counteract this growing problem, HUD is launching the "Know It. Avoid It. Report It." campaign in Chicago, Miami and Los Angeles. The primary objectives of this campaign are to: ask homeowners to stop scammers while directing those who face foreclosure to trusted resources instead. Those who have been heavily targeted over the past year are Hispanics, African Americans, and the elderly.

If a deal sounds too good to be true, it probably is. There are reliable sources, like government-approved housing counselors, who can help you for free or a reduced charge. You can find more information online through the HUD website. They are working hard to provide a complaint form and hotline for suspicious individuals, as well as providing a list of individuals who have already been identified as fraudulent.

Need help fighting foreclosure in Illinois?  Contact us to get assistance from a Chicago bankruptcy attorney.