 |  How do equity stripping scams work? The following are tactics equity stripping scammers use and that you should be aware of: - You saw a road sign, went to a seminar, found a site on the Internet, or received an e-mail, phone call, personal visit, card or flyer from someone claiming they could "stop foreclosure with just one phone call," get you "instant debt relief and cash" or another tantalizing offer.
- You applied for a loan (typically upwards of $10,000) and paid someone—a "straw buyer"—who promised to buy your house, get it out of foreclosure, and then sell it back to you after you pay rent to live in your own home for a year.
- The fake buyer, now with title to your house, took out home equity loans—stripping out the equity.
- You either never got your house back or you did but you now owe more money than you did before.
If you believe you have been the victim of an equity stripping scam or other foreclosure rescue scam, it's time to fight for justice. Contact us for a free consultation. | | Have you been the victim of a foreclosure "rescue" scam?These scams are executed by crooks that prey on the fears of homeowners facing foreclosure. If you are like the majority of homeowners in this situation, you did not realize you were being scammed until it was too late. At the Law Offices of William S. Bach, we are passionate about helping victims of fraud and holding those who engage in fraudulent practices accountable. We want to help you get justice. Call the Law Offices of William S. Bach at (202) 737-2930 or contact us by e-mail today to schedule your free consultation. Have you lost your home and/or a lot of money in an equity stripping scam?Now that thousands of people are facing the possibility of home foreclosure, some people are making a lot of money running real estate frauds and scams. These crooks advertise that they can save homeowners from foreclosure. They convince people their plan is the only way to save their homes. Sometimes they run seminars, promising useful information and help from a desperate situation, but really trying to hook people into their scams. Others post signs all over town promising to buy homes in any condition, offering people what seems like a chance to save themselves from a desperate financial situation. A third way they hook people in is to advertise on the Internet or by spam e-mails. Attorney William S. Bach provides vigorous and thorough help to people who have fallen victim to these scams. Our law firm may be able to help you: - Recover fraudulently transferred deeds and titles
- Terminate fraudulent contracts
- Recover monetary damages
- File a lawsuit to get your money and equity back and hold these crooks responsible
Who can be held responsible for real estate fraud?Various parties can play a role in these so-called "rescue" scams. Our law firm is experienced in identifying fraudulent behavior, and depending on facts specific to your case, the following parties could be held responsible: - Your bank, creditor or lender: Lenders dealing in real estate have a legal duty not to participate in frauds.
- Your closing agent: Closing agents have a legal duty to ask certain questions at the closing that are intended to expose these types of frauds.
- Lawyers who handled the loans: Real estate lawyers also have a legal duty not to participate in fraud. Unfortunately, an attorney may have benefited from the fraudulent behavior by receiving kickbacks in the form of fees and points.
- Your mortgage broker: In these frauds, mortgage brokers are often paid by the lender in addition to the fee you may have paid. This amounts to representing both sides of the transaction, which is illegal.
If you believe you may have been the victim of a real estate or mortgage fraud, take action. Call the Law Offices of William S. Bach at (202) 737-2930 or contact us by e-mail to schedule your free consultation. Law Offices of William S. Bach717 D Street NW, Suite 400
Washington, DC 20004-2812
Map and Directions
Phone: (202) 737-2930 | Fax: (202) 737-1350 Washington, D.C. attorney William S. Bach represents clients throughout the Washington, D.C. area, in communities such as Upper Marlboro, Fort Washington, Largo, and Bowie.
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