"Foreclosure Rescue Scams"

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Have been meaning to mention a story I authored in last week’s magazine about the rise in so-called “Foreclosure Rescue Scams,” in which unscrupulous individuals or groups approach homeowners facing foreclosure and promise to help them save their homes. In many instances, they convince the troubled homeowner—who is desperate to save their homes—to transfer the deed over to them with the promise that the investor will make the mortgage payments going forward, and the previous owner can rent while they try to rebuild their savings and repair their credit.

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