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Avoiding all kinds of real estate scams in Florida

Foreclosure rescue scammers abound these days in the face of high unemployment rates and real estate market issues that remain from previous years. They are companies and individuals who pretend to assist homeowners in financial trouble but are really only in it to make a profit no matter who gets hurt in the process. They do this by taking money from distressed consumers, stealing the equity in their home while giving them nothing.

Although there are some legitimate organizations that are offering help to homeowners who are experiencing difficulty keeping up with their mortgage payments, scams are only interested in following the money. They prey on desperate homeowners' fears because they know there is money available.

There are three basic types of foreclosure rescue scams. These include phantom help, which is where scammers take money from homeowners without ever delivering any services, or very little. Another scam is the bait and switch, where scammers con homeowners into signing over the ownership of their home. Usually, scam artists will trick a homeowner into signing the necessary documents. The third scam is sale and leaseback, where the scammer talks a homeowner into selling them their home. They then offer to lease it to them until they can buy it back, which the scammers make impossible to accomplish.

Avoiding all of these scams begins with being forewarned and knowing what to expect. When a homeowner is in financial trouble and needs advice on foreclosure defense, a real estate attorney could help. An attorney could advise the homeowners of their rights and potentially negotiate on their behalf with the lender.

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