Missouri Homeowner Falls Victim To Foreclosure Rescue Scam; Files Suit To Get Home Back

Buried in a recent article in The Kansas City Star is the story of a local homeowner facing foreclosure who had the equity in his home stripped by someone offering a "program" to help save his home. According to the article:

• "[A homeowner] was facing foreclosure when he was approached by a woman who got his name from published records. The woman offered to save his house. All he had to do was to assign the home over to her temporarily and she would refinance the loan in her name. He began paying her rent. [...] But she said the next thing the man knew the bank was foreclosing on the new loan. He was evicted and his $65,000 in equity was gone. The woman allegedly didn’t pay the mortgage, ..."

Reportedly, the man has retained an attorney and is suing to fight the foreclosure and get his home back. For the story, see Foreclosure ‘rescue’ scams on the rise.