Foreclosure Rescue Scams RevealedScam #11 of the Dirty Dozen - Foreclosure Scams - Identity TheftForeclosure Rescue Scam #11) Identity Theft You don't have to be in financial trouble to be the victim of identity theft. But some identity thieves pose as on-line loan originators, loan officers, realtors, loan modification specialists, foreclosure rescue specialists, short sale specialists. They will offer, for your convenience, to do the entire transaction on-line. The foreclosure scammer doesn't even have to dig your private information from the garbage or hack into your accounts. These imposters provide on-line forms for you, and you basically volunteer all the info they need to open up credit cards in your name, charge up existing accounts, and even borrow money against your house. If you try to arrange to meet them face to face, they may say that they are based out of state or overseas and do not have an office located in your area. All this time, you may be unaware that your identity has been stolen. Your credit is being damaged (or further damaged) and you are closer than ever to foreclosure. Once you catch on, you not only still have the stress of foreclosure, you have the added task of straightening out fraudulent accounts, loans, and charges on your credit report. You may even have to prove that you are the true owner of your home. Red flags to look for: • Loan officer, loan originator, anyone who says they can conveniently take care of everything on-line. • The representative will not arrange a face to face meeting. Things to keep in mind: • Check out on-line services thoroughly before filling out any forms • DO NOT ENTRUST URGENT FINANCIAL MATTERS OR PRIVATE INFO TO SOMEONE YOU HAVE NEVER MET FACE TO FACE.
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