Foreclosure Scam Warning Hits South Bay

Sunday, Sep 12, 2010  |  Updated 2:00 PM PDT
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Foreclosure Scam Warning Hits South Bay

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Morgan Hill police and the Santa Clara County District Attorney's  Office are advising residents to be aware of scam artists posing as  foreclosure rescuers.

      Police believe some homeowners may have fallen victim to a  foreclosure "rescue and lease back" scam in which scam artists pose as  foreclosure rescuers and deceive homeowners facing eviction into believing  that they can move back into a home that has been foreclosed upon even after  a court has ordered their eviction, according to police.
     
The scam artists record documents such as fraudulent deeds, police  said.
     
Individuals and businesses offering mortgage-foreclosure  consulting, loan modification and foreclosure-assistance services are  required by law to register with the state attorney general's office and post  a $100,000 bond.
     
Loan modification consultants and businesses are not permitted to  charge up-front fees for their services, police said.
     
Residents can verify a person or company offering foreclosure  assistance by visiting http://ag.ca.gov/loanmod.
   
 Anyone who has information regarding this type of scam is  encouraged to contact Detective Guerrero at (408) 779-2101 or District  Attorney Investigator Jamie Gauthier at (408) 792-2707.

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