If there's no equity, then the foreclosure rescue scam folks talk the homeowner into renting from them. They say something like, we'll take over the payments and you can rent from us.
The scammers collect the rent and do not forward the money on to the lender. A couple of months go by, the home goes into foreclosure and the homeowner is evicted. The scammers scored several thousand dollars and are nowhere to be found.
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baffled by foreclosure scams...
Moderators: synthetik, The Tim, Lake Hills Renter
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baffled by foreclosure scams...
by sniglet » Tue Mar 25, 2008 5:40 am
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Re: baffled by foreclosure scams...
by jillayne » Thu Mar 27, 2008 7:01 pm
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