Foreclosure rescue scheme | Wikipedia audio article
Channel: wikipedia tts
Date: 2019-01-14

This is an audio version of the Wikipedia Article:
https://en.wikipedia.org/wiki/Foreclosure_rescue_scheme


00:00:38 1 Types of foreclosure rescue schemes
00:00:53 1.1 Lease-buyback
00:01:34 1.2 Equity stripping
00:02:43 1.3 Consulting service
00:04:12 1.4 Loan modification scam
00:05:04 2 See also



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SUMMARY
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A foreclosure rescue scheme is a scam that targets those whose house is facing potential foreclosure. The scheme preys on desperate homeowners whose mortgages are in default by offering to prevent the foreclosure. There are various ways in which foreclosure rescue schemes work, causing different types of harm to the homeowners, but all ultimately with the likely end result of the owner being forced out of his/her home and losing even more money.
Foreclosure rescue schemes are typically advertised in a variety of informal settings, such as roadside signs.