Be on the Lookout
One in every 20 Minnesota homes was foreclosed upon between 2005 and 2009. For-profit foreclosure scams have boomed in this environment – from only one reported in 2008 to 7,927 reported in 2009 – to prey on struggling home owners at their weakest.
At best, these foreclosure scam companies charge money for services otherwise available for free. At their worst, they require enormous up-front fees or ask for the home title, only to abandon the home owner, leaving them in an even worse situation than before.
In addition, you should know the answers to a few questions.
Don’t be afraid to do some investigation – Look Before You Leap.