Foreclosure Scams Affecting San Diego Homeowners
As if things haven’t been challenging enough for San Diego homeowners …
According to the U.S Treasury Department’s Financial Crimes Enforcement Network (FinCEN), even as the total number of reports of mortgage loan fraud declined, reports of suspicious activity regarding foreclosure rescue scams continued to grow.
I know of several San Diego homeowners that in an attempt to help themselves when they became no longer able to pay their mortgages were victimized; paying thousands of dollars for assistance that they did not receive.
Foreclosure “rescue” scams typically target San Diego homeowners and homeowners across the U.S. facing foreclosure by offering services or advice promising to stop or delay the foreclosure process. Some of these scams require homeowners to transfer the title to their home or make monthly mortgage payments to the supposed “rescuer.”
The stats are:
In the first half of 2012, 2,360 reports (and I imagine there are hundreds of unreported cases in San Diego) of suspicious foreclosure rescue plans. This is likely to exceed the 2,782 reports filed in 2011. Meanwhile 17,476 mortgage loan fraud cases were reported in the second quarter, down a whopping 41 percent from the previous year. Most of these reported cases of foreclosure scams were in California, hence, affecting San Diego homeowners.