Avoiding Foreclosure Scams

When facing foreclosure, there are some dishonest people that may try to take advantage of you and take your money or even trick you into turning over your property. It is important to understand what these scams are and how you can avoid them.

At Jacoby and Jacoby, it is our goal to provide our clients with not just the legal representation they need but also with the information and guidance that is so valuable in making the right decisions when in a serious situation such as facing foreclosure proceedings. We welcome you to contact a Long Island foreclosure defense lawyer at our firm so you can understand what scams are out there and how you can fight foreclosure - and keep your home.

Following are some types of foreclosure scams to be on the lookout for:

• Bait and switch - In a bait and switch scam, homeowners are coerced or persuaded into signing documents which they think will bring their mortgage current, but these are actually signing over the ownership of their homes. Many homeowners don't even realize they've been scammed until they are served a notice of eviction and made to leave their homes.
• The bail-out scam - In this scam, the homeowner is again tricked into signing over the title of their home. They are led to believe that they will be able to remain in the home and pay rent until they are able to buy back the house at a later date. The scammer, however, does not truly intend on letting the homeowner buy back the house.
• Phantom help - A phantom help scam involves a company or person offering help to a homeowner in filling out and filing certain paperwork as related to foreclosure. The company charges for this, when it is actually something that the homeowner could have done. To add insult to injury, these actions are also actually not beneficial in avoiding foreclosure.

If you have been the victim of a foreclosure scam or are currently facing foreclosure, consulting a Long Island foreclosure attorney at our firm as soon as possible will be in your best interests. We want to help you avoid foreclosure and face a brighter financial future. At Jacoby and Jacoby, we represent clients throughout Suffolk, Nassau and Long Island, New York. We also offer a free consultation to discuss your matter.   Contact Jacoby and Jacoby today to discuss your situation with a skilled foreclosure defense attorney.