Mortgage Rescue

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Due to the increasing number of mortgage-related crimes, Illinois Attorney General Lisa Madigan cautioned the public against schemes used by mortgage “rescue” companies to defraud homeowners with almost foreclosed properties. She said that deceitful characters lured homeowners who have lagged behind on their monthly house amortizations. These homeowners were promised that upon payment of an upfront fee, the con artists will negotiate with their lenders to lessen their monthly amortizations and homeowners get to keep their house. However, after collecting the so-called “upfront fee” these con artists are “gone with the wind”. In the end, the poor homeowners lost their money and their home too because most of them had their savings tied up with their home equity.
