Mortgage Scams and Complaints

In the last several years, major banks have been labeled as predators due to issues with the mortgage crisis, but big banks aren't the only groups to have scammed innocent home owners out of their homes and savings. One of the most common scams doesn't actually get the scammer in any trouble and is a scam that promises help with the foreclosure or refinancing process. The scammer will charge significant fees to take care of simple procedures and phone calls that would have been easily accomplished by the home owner himself. Another type of mortgage scam actually convinces people to hand over ownership of the home by presenting scam documents that look completely legitimate and are described as help to get rid of mortgage debt. This scam is incredibly common against the elderly and individuals with English as a second language, and results in complete loss of a home. Visit ScamGuard.com for more information on mortgage scams and to share your experience with this type of fraud.