Boca Raton Foreclosure Defense Attorney
When a homeowner stops paying back the money he or she owes on his or her mortgage, he or she risks losing the home to foreclosure, the legal practice that creditors and other lenders may use to recoup the balance of an unpaid loan if the borrower defaults on it.
A homeowner facing foreclosure faces a damaged credit rating, the loss of an investment, and possible homelessness. Some fraudulent “foreclosure experts” prey on homeowners’ vulnerability by offering ways to save their homes from foreclosure through unethical and illegal means, such as purchasing their homes at a low cost and offering to sell them back to the original owner for a much higher amount or offering advance funds at a high interest rate to desperate homeowners.
If you are facing foreclosure, seek help from a trusted Boca Raton foreclosure defense attorney who knows foreclosure law and will work in your best interest to save your home. Lavalle, Brown & Ronan, P.A. are here for all your real estate needs.
Types of Boca Raton Foreclosure Frauds
There are various ways fraudsters try to steal from homeowners facing foreclosure. The following are examples of common foreclosure frauds:
Bailout. In this type of foreclosure fraud, the fraudster offers to help the homeowner by purchasing his or her house and allowing the owner to rent it, sometimes in a rent-to-buy setup. With the title to the home, the new owner can do whatever he or she wants, including raising the rent, evicting its former owner, or even selling it.
Phantom Help. A “foreclosure expert” offers to handle all foreclosure issues on the homeowner’s behalf, for a fee. He or she might never actually work to save the home, but instead makes a profit from the homeowner he or she claimed to help. In some cases like this, the fraudster instructs the homeowner to pay him or her all the mortgage payments rather than paying them back to the bank or creditor.
Bait and Switch. This type of scam occurs when a fraudster claims to represent the mortgage lender or bank, offering the homeowner the opportunity to sign a new loan for his or her home with new conditions. In reality, these often result in the homeowner signing away his or her ownership of the home.
If you find yourself facing foreclosure, be extremely careful about who you share information with and where you go for help. You can try to modify your mortgage, try to prove that the bank no longer has an interest in your loan, or declare bankruptcy. A qualified attorney can help you through this process. Do not go to any individual or group that promises help for an up-front fee or whose claims seem too good to be true. You can save your home from foreclosure, but you need to use your head and seek qualified help to do so.
Our Boca Raton Foreclosure Defense Attorneys Can Help
If your home is in danger of going into foreclosure, know all your options and rights as a homeowner. Call Lavalle, Brown & Ronan, P.A. today at 561-395-0000 to learn more about foreclosure and what you can do in this situation.