Homeowners in Danger of Foreclosure Are Most Vulnerable to Con Artists and Financial Scams

As foreclosures continue to rise across the nation, homeowners in financial distress need to be vigilant in protecting themselves against con artists and scams, according to Oyezz Real Estate, a leading local firm specializing in “short sales” as alternatives to foreclosure.

“When someone is under financial stress, they are much more vulnerable to becoming a victim of fraud,” says John Anderson, president of Oyezz. “Homeowners have to look past the smooth talk and appealing promises and thoroughly research the people and companies they choose to help them address their problems.”

The number one rule, Anderson says, is that homeowners should never pay anyone or any company an up-front fee to conduct a loan modification, arrange a short sale, or stop a foreclosure.

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