Mortgage Scam Once More

Scams are nothing more than a curse. You do not hear people praise scams, except of course if they are the scammers themselves doing the praising. There really is nothing to praise since it is an activity done by low-life creatures that have nothing better to do than trick people out of their money. The only people who are happy with scams are those that are doing the scamming; they are making a lot of money out of the poor people that they manage to bamboozle. So if you are reading this in the hopes that you can make more informed decisions, than you are on the right track. You are keeping yourself informed and thus, you make yourself less likely to fall for scams that are targeted at people who are having mortgage problems.


Mortgage trouble is pretty common nowadays what with the economy down in the dumps and people losing their jobs left and right. When people lose jobs, they lose their income and when people lose their income that is when the scammers come to town. Mortgage troubles always mean that you are having financial difficulties do not make the situation worse by falling for a scam artist and his amazing sales talk.


One scam that you need to be aware of is the Lease Buy Back. It sounds great on paper, but it is very sinister in practice. Since it sounds like it could be legit does not always mean that it is. The way this scam works is that you will immediately be approached by people who will volunteer to sell your property to a separate investor. This investor will make a promise to let you lease your own property so that it does not get foreclosed. Of course this is all a front since what really happens is so much seedier. In the harsh light of reality, they will make sure that you do not get to make payments so that the so-called investor prances away armed with the equity from your property. Not what you expect is it? It seems so credible, so good a deal when it is anything but that.