With the glut of people that are struggling to pay their mortgage in our world today there are just as many people out there trying to make the situation even worse. People are looking to defraud you out of your home and way of life by offering you deals that truly are too good to be true. For instance, the “lease-buyback” scam is scamming many people out of their beloved homes with the promise of financial security.
First, understand that there are legitimate lease-buyback opportunities and they can save you and your family from further financial harm. However, many people take advantage of this fact so they can take your home from you. Some states are enacting legislation to protect their citizens from these scams, for example, Florida has a law stating the following:
“…3. A foreclosure-rescue transaction agreement must state the specifications of any option or right to repurchase the residential real property in foreclosure, including the specific amounts of any escrow payments or deposit, down payment, purchase price, closing costs, commissions, or other fees or costs…”
This will not solve the problem for everyone across the country, but it does make a good point for you and your situation. If you don’t get the promise of re-buying or purchasing the home in the future, don’t be surprised if the option never comes up.
Don’t waste any more time worrying about how to pay your mortgage, contact us today by phone at 813-612-5697 or 877-246-4486 or by email at Sales@TSherwoodLaw.com.
