This week, another investor pleaded guilty to foreclosure fraud. The scam artist, Daniel Rosenbledt, admitted to the U.S. Justice Department that he conspired with other investors to rig foreclosure bidding processes in order to deflate the prices for foreclosed properties, according to a report from NBC News.
Unfortunately, rigging an auction is just one of several common forms of foreclosure fraud. Some credit repair agencies will ask for up-front cash in exchange for a promised defeat of a foreclosure lawsuit, but then the homeowners never hear from them again. Other scam artists simply lie to homeowners, telling them they must leave their homes immediately, which is rarely true, especially in Illinois, where the foreclosure process may take several years.
And foreclosure fraud isn’t limited to the San Francisco area. Many Illinois homeowners have also fallen victim to various types of foreclosure fraud. If your home is facing a potential foreclosure, and someone offers assistance, make sure they’re a reputable outfit. And if you doubt an agency’s credentials, call a local foreclosure attorney to make sure you’re protecting your legal rights.