Scammers target desperate homeowners, such as those who are struggling with mortgage payments or facing foreclosure. These victims are often susceptible to false promises.
Other criminals claim to be investors or contractors who can make you money. Regardless, it’s important to be vigilant and question anyone who is trying to “help” you or wants money upfront. Here are some of the more common homeowner scams.
Phony Housing Counselors or Lawyers
Scammers will say they represent the government or are a law firm. They claim they can convince your lender to enter a deal to lower your mortgage payments and will handle the details. Ultimately, their claim is that they can save you from foreclosure.
Anne Johnson
Author
Anne Johnson was a commercial property and casualty insurance agent for nine years. She was also licensed in health and life insurance. She went on to own an advertising agency, where she worked with businesses. She has been writing about personal finance for 10 years.
