With so many facing foreclosure on their homes and properties in the United States many need to beware of being targeted by scammers in their vulnerable and stressful financial states.
If you’re facing foreclosure, scammers want to find you.
The Better Business Bureau (BBB) has publicly issued a warning about these scams along with the federal government’s Internet Crime Complaint Center urging those in financial hardships to be wary of any mass joinder lawsuits that come their way asking for up front money.
In at least 17 states so far these mass joinder lawsuits have been marketed by the phone with scammers asking you to become part of a lawsuit against your mortgage company.
One of the sure fire ways to band members of a community together is to introduce a common enemy. The irony here is that a common enemy (scammers) are introducing what unsuspecting foreclosure cases view as their common enemy (their mortgage providers) in this vastly unknown battle to stay afloat.
If you feel like you’re a victim in your mortgage lender foreclosing on your property you could be harnessing some anger and resentment that makes a mass joinder lawsuit seem appealing when you’re first introduced to the idea. However, the feds are warning that this is no typical class action lawsuit. This “lawsuit” (scam) is asking for as much to $5,000 upfront to participate in the suit against your provider.
This raises a huge red flag in states like Maryland that does not allow up front fees for mortgage services. Also, soliciting people for these lawsuits by phone is not allowed.
Hang on to your hats and money, folks!
If you have been scammed and would like to file a scam report, please click here.