Guide to Real Estate Fraud

Foreclosure schemes

Foreclosure schemes. These are particularly evil because they prey on people with big enough financial problems that they’re in danger of losing their home. A homeowner in the early stages of foreclosure may be contacted by a fraudster who says he can help the homeowner get rid of his debt and save his house for an upfront fee, which the fraudster takes and then disappears. In another scheme, a homeowner is approached by a con artist who offers to help them refinance the loan. “They sign all these documents and find out later that they actually sold the house — to the fraudster. Then they face eviction.

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