Protecting Yourself From Refinancing Scams
Believe it or not, financial scammers often do not target the wealthiest individuals. Instead, those facing financial pressures and even considering bankruptcy are most often victimized. Those with money problems may painted into a corner, under immense stress, willing to do whatever it takes for a fresh start, and more susceptible to the dubious claims of scam artists.
![refinancing scam](/images/easyblog_images/2013/12/451686229.jpg)
Unfortunately, scammers often use HARP as a way to funnel money their way. The main thing to look out for are third parties asking for large fees to help you take advantage of the program.
Rent to Own or Lease Back Scheme: This scam can result in loss of your home if you are not careful. In this trick, con artists try to convince homeowners to sign over the title or deed to their home with no intention of ever giving the house back. This is done with claims about getting money up-front while leasing the home or renting again in order to buy it back. These scam artists typically target people they know applied to refinance but were denied due to credit.The best way to protect yourself from a scam like this is to never sign over the deed or title of your home unless you are legitimately selling the property with the aid of lenders, real estate agents, and proper legal professionals.
Trusted Legal Help If you are dealing with foreclosure, looming debt, and other financial pressures, remember that you do not have to handle it alone. An experienced Texas bankruptcy attorney can help. Our team in San Antonio works with residents throughout the state looking for a fresh financial start. Feel free to contact us today to learn more.