Scam artists preying on those in need...
With the continued rise of economic instability scam artists are coming out of the woodwork claiming to be saviors and providing foreclosure relief. Concerns are swirling around the idea that the $75 billion plan Obama unveiled to help borrowers modify their current mortgages may lure more foreclosure hucksters onto the scene. Illegitimate companies take fees from homeowners often with promises that federal bailout money will provide a quick fix. Scammers then make off with the fees, leaving homeowners worse than before. "If an offer sounds too good to be true, it probably is", is a common mantra providing an easy test for homeowners. About a dozen companies have been sued as more than 100 complaints of foreclosure rescue scams have come into the Florida Attorney General's office in recent weeks. For genuine assistance homeowners can contact their current lender and can often negotiate a loan restructure.