Imagine facing foreclosure, terrified of losing your home, and then paying hundreds or even thousands of dollars to a company who promised to help you – and then did nothing. Tragically, that scenario is all too real for many Floridians. More and more illegal foreclosure rescue operations are cropping up statewide.
These companies charge fees to negotiate with lenders on behalf of homeowners. The goal is to stop the foreclosure and get the lender to modify the loan so the homeowner can afford to stay.
Unfortunately, many of these companies not only fail to deliver on their promises, they also violate a new state law regulating foreclosure rescue consultants.
The Florida attorney general’s office last year opened more than 50 investigations and sued several foreclosure rescue companies for not making good on promises to consumers. So far, three Tampa Bay area companies, including the one Matlock paid, have gone out of business amid these investigations.
Although the attorney general’s office has been diligently trying to weed out these scam artists from Florida, new ones crop up every day. If you’re in foreclosure, and you are hiring someone to help you, make sure you check them out first.
You must log in to post a comment.