Texas Retiree Falls Victim to "Foreclosure Rescue" Scam

Amie Streater, of the (Dallas-Fort Worth) Star-Telegram reports on a retiree who was apparently victimized by a "foreclosure rescue" scam. The article's description of what happened contains hallmarks of the typical "home equity theft":

1. "Foreclosure rescue" company rep shows up at victim's home for an in-person solicitation,
2. Victim fills out "company paperwork",
3. Victim claims to never have received copies of the signed paperwork,
4. Home was "sold" to a new owner, with victim continuing to live in the home,
5. Victim receives no cash on the "sale",
6. Victim agrees to make payments to mortgage company on behalf of new owner,
7. Victim is left with the understanding that she can buy back her home after one year.

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For those of you in the Dallas-Fort Worth area, the Star -Telegram's Watchdog would like to hear from other homeowners who have been approached by people offering to help them avoid foreclosure. Send your stories to watchdog@star-telegram.com or call Amie Streater at 817-390-7456.