Servicing

Foreclosure-fighting lawyers are the new housing predator

While the foreclosure crisis happened back in 2008, an article in the Huff Post said that the business of preying on struggling homeowners is still a thriving concern.

The article said that since 2010, more than 40,000 homeowners have complained they were scammed by someone promising to offer foreclosure assistance or help them with a mortgage modification.

The most costly of these foreclosure rescue scams — and now the most pervasive — involve or are directed by attorneys, according to the analysis, which was conducted by the Lawyers’ Committee for Civil Rights Under Law, a group that helps monitor the hotline.

Last year, nearly 60 percent of all complaint calls to the HOPE hotline involved a lawyer, the group found. That's up from 40 percent in 2010. The average loss claimed in schemes involving or directed by lawyers was $3,601 — about $800 more than in other types of deceptions, according to the analysis.

Most Popular Articles

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please