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Here but housing another critical area of our focus in our next guest says the struggling home market is a breeding ground for mortgage rescue scams.
Actually steer clear of these games executive director of the national associate.
Advocates -- -- -- is joining us now from Washington DC -- good to see you.
So this game is happening quickly shifted to take advantage.
Of what is happening in the housing market went previously these themes were trying to.
Take people's homes away from them because there -- some equity there.
Now I'm not so much and now they've they've kind of changed strategy so what are we looking at him.
Well that's exactly right I think what we have right now is -- as the stories that you tell.
On your broadcast are a lot of people desperate people who are scared their houses or in foreclosure they don't know what to do.
And when you have desperate people looking to save their homes.
They are incredibly vulnerable and unfortunately the scammer is.
People trying to take that take.
Good money away from better out there and are reaching out to them and unfortunately taking advantage of very scared and desperate people.
What are they get they're trying to get up -- -- taking -- -- out of foreclosure like what's essential -- that you think pop -- I'll show at this point and it's getting nature of the scams consistently changed.
Right now the big scam is basically come to Austin KS -- -- pay us the monthly pay it pay as an hourly fate and we're gonna save your home.
Just call us and we can do it and unfortunately.
It is highly unlikely that somebody who's charging you feel like that is going to do any better than anybody else in terms of modifying your -- we're getting you out of foreclosure it -- not -- not.
Call us they call you did so that's small -- that at this day.
That's exactly right I think 111 -- people need to understand is when they're in the -- on their mortgage when they're faced with foreclosure.
Word gets out they're pretty quickly public records are out there there are people out there searching goes public records to see who's faced with foreclosure.
I think one of the great cruises and once someone has faced -- foreclosure they're going to get a mountain of mail.
And I a lot of unsolicited phone call from people including people knocking on their door offering them all sorts of help.
Most of which is complete waste of time and unfortunately the wind up throwing good money away after bad.
I think -- that's and it's critically important thing is that foreclosures are public domain for your information is out there for anybody to city.
And there are people who specialize in hunting down that information looking for that information and contacting you -- preying on you.
And you need to be very very careful when somebody makes a promise to you about saving your home.
You needed to really be -- went one when something looks too good to be true it is too good to be true and there are no easy solutions to to fixing your foreclosure mess.
Indeed -- great to see you keep us up today it is new scams form we want to hear about him.
I arrived on executive director of the national association.
Of consumer advocates take care.
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