Beware of scams related to mortgage problems and foreclosure.

Equity Skimming

In this type of scam, a “buyer” approaches you, offering to get you out of financial trouble by promising to pay off your mortgage or give you a sum of money when the property is sold. The “buyer” may suggest that you move out quickly and deed the property to him or her. The “buyer” then collects rent for a time, does not make any mortgage payments, and allows the lender to foreclose. Remember, signing over your deed to someone else does not necessarily relieve you of your obligation on your loan.

Daily Law, PLLC is awarded 2023 Best Real Estate Attorneys in Port St. Lucie, Florida by Expertise.com

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