West Michigan Short Sale, Foreclosure and Real Estate Info
Some may find help with foreclosures in Grand Rapid, MI and beyond are taken more seriously. Our state, and 14 others are developing more protections against those who prey on others in foreclosure circumstances; scammers.
Back in July the CFPB (Consumer Financial Protection Bureau) and the FTC (Federal Trade Commission) had 9 lawsuits against individuals and companies across the country that received more than $25MM in preemptive fees that were not legal because they falsely stated that they could certainly prevent foreclosures.
Simultaneously, fifteen offices of the Attorney General reported an additional thirty-two actions against scammers who promised prevention from foreclosure. The common approach with such scammers is they offer a security to delinquent homeowners from mortgage servicers who look to foreclose. This dynamic is true with those experience foreclosures in Grand Rapids, MI. Then the homeowner is promised home retention only after up-front fees are paid. However, little is actually done after this by the scammer. Foreclosure is still eminent and promised compensation intended to avoid this never arrives.
Fifteen U.S. states are responding to this as criminal activity, including the State of Michigan as challenges predatory practices with foreclosures in Grand Rapid, MI. and beyond. Besides Michigan tracking down scammers, other states include Arizona, Delaware, Florida, Indiana, Illinois, Kansas, Louisiana, Maryland, New Mexico, New York, North Carolina, Ohio, Washington and Wisconsin. Though protection is developing, it is wise to be very cautious with any outfit that asks for fees up from for foreclosure-prevention services.
You can learn more about the upcoming help against scams that exploit foreclosures in Grand Rapids, MI and in the rest of the state by visiting: www.michigan.gov
