Be Wary Of Foreclosure Rescues

Nationwide, the number of foreclosures is up more than 60 percent compared to this same time last year. It’s not quite a crisis in our area, but there are many folks facing the possibility of losing their home. That can leave them vulnerable and promises of foreclosure rescue often wind up leaving them in ruins. For a family that doesn’t want to be named, though the answer came with a knock at the door and a company willing to step in. They claim the company offered to talk to the mortgage company for them, take over ownership of the home and leave the mortgage in their name — then rent the home back to them at a price that was lower than their mortgage. The homeowners would also have the chance to re-buy the home after a couple of years.

$The Pre-Foreclosure Property Investor\'s Kit : How to Make Money Buying Distressed Real Estate -- Before the Public Auction$