Foreclosure

For comprehensive  information on preventing foreclosure, see the County's Department of  Housing and Community Affairs' Preventing Foreclosure webpage.  

One of the nation’s largest investors in residential mortgages, Freddie Mac (NYSE: FRE) decided to produce an Internet video dramatizing a common foreclosure fraud scheme after a new survey found one-in-four delinquent borrowers go to the Internet before their bank or lender for information about avoiding foreclosure.Freddie Mac’s anti-fraud video can be found by clicking here. 

Freddie Mac’s two-minute YouTube video uses professional actors to demonstrate how con artists can:

·Get copies of foreclosure notices at City Hall or a county courthouse;

·Persuade distressed borrowers to give up the deeds in exchange for suspicious promises to solve their financial problems;

·Use the deeds to secure new loans for themselves; and,

·Let the new loans go into foreclosure, which means the homeowners looking for help can still end up losing their house.

For more Information, go to Freddie Mac's website:
http://www.freddiemac.com/

Also, you can view informational Public Service Announcements on foreclosure produced by Neighbor Works.