downtown San Diego real estate   mls listing 

San Diego real estate agent

Jared Schwartz,


San Diego

San Diego

Contact Us
Real Estate
Agent Overview
Seller Resources
RMV Sales
San Diego Information
Real Estate
San Diego Attorneys
Article Index
Agent Profile

Located in:

San Diego, California

Contact me:

Telephone - Cell:
(619) 913-0303

(619) 471-2040



 Click here to email Jared

Copyright © 2007 by

Jared Schwartz

San Diego real estate broker
Promotions Unlimited

All rights reserved.


Foreclosure Scams You Need To Know


The annual foreclosure statistics are going through roof due to a faltering housing market together with an great increase in consumer debt. Not only are foreclosure numbers increasing in San Diego and other areas of California, but the entire Nation experienced a RECORD number of foreclosures and bankruptcies just last year. Anyone experiencing the process of home foreclosure will be seeking help.

Those facing foreclosure face tremendous emotional distress much more so than those facing bankruptcy. The extreme stress of foreclosure causes ones judgment to become clouded and makes it easy to fall victim to scammers.

It always astonishes me that no matter how bad off an individual might be there is without doubt another individual willing to exploit that persons suffering for their own financial gain. Con artists and scammers have wasted no time in preying upon the extraordinary distress of those facing foreclosure.

Scammers trying to siphon money from those facing foreclosure primarily depend upon two scams: the equity scam and the fake counseling scams.

An equity scam is where an unsolicited offer is made to those facing foreclosure to find a buyer for their homes and instantly solve their financial problems. The individual making the offer will even offer to take over the debt in exchange for their deed to the house.

Once the house is deeded over to the scammer, the house is then rented out while the foreclosure proceedings continue in progress. Foreclosure proceedings can take many months offering the scammer the potential to earn thousands. Those who deeded over the home ultimately do not learn of the scam until their home has been auctioned off. They are then stuck with the original mortgage debt and the loss of their home.

With the fake counseling scam, an unsolicited offer is made for “expert” advice and support in exchange for a small fee. The “experts” will then figure out a way to reduce your monthly payments and even reduce the original mortgage debt. What really ends up happening is that the money is turned over to experts who offer advice that could have found freely been on the Internet.

Often times the consulting fees for this service can cost hundreds and even thousands of dollars. The best a consultant can really do is get you a short grace period, usually of no more than a couple of months. Again, information for the grace period could have easily been found from the internet or by a quick visit to the local library.

The easiest way to keep away from being scammed while enduring forecloser is to remember the golden rule marketing; if it sounds to good to be true, it probably is. If someone offers “expert” advice and assistance, you should do a search for the information they give on the internet. More than likely you will find the very same information that the “experts” have access to but without the price tag.


Back to San Diego downtown real estate article index


San Diego Agent