Have you considered using one of those loan modification services that
you hear advertised? If so, you should think twice about whom you decide
to work with. The
Chicago Tribune recently reported that even as
foreclosure activity in the state has been dropping, loan modification scams are becoming
more elaborate. As an example, the article cited a case from last month
in which two men in the Chicago area received federal charges for allegedly
operating such a scam. The men were accused of falsely telling clients
that a lawyer would negotiate their loan modifications for them. One of
the men was even accused of pretending to be a licensed attorney. They
allegedly asked for upfront fees ranging from $2,000 to $3,000.
According to the article, this reflects a trend of scammers trying to use
a loophole in the legal system to get away with their deceptive schemes.
There is a law in Illinois (and similar laws in other states) that bans
the practice of accepting advance fees for foreclosure rescue services.
Attorneys, however, are an exception to that rule, which is why many scammers
have used the legal route to draw in distressed homeowners. Some of the
scam artists are actual lawyers, while others are individuals who are
advertising legal services. The Chicago Tribune reports that of all the
complaints for foreclosure rescue scams that the Illinoi Attorney General's
office receives, nearly 70% are reported to have involved law firms or
lawyers. In addition to these hoaxes, other common foreclosure-related
schemes involve the act of targeting elderly and minority homeowners.
If you are dealing with the possibility of foreclosure, make sure you are
working with a legal professional you can trust. While some attorneys
are involved in fraudulent tactics like the ones mentioned above, there
are also many skilled foreclosure lawyers out there who can be trusted--including
Chicago Foreclosure Defense Attorney Jerry Borden. At
Whiteman Borden, LLC, we dedicate our practice to helping at-risk homeowners avoid foreclosure,
and we only use honest and ethical legal practices. We invite you to
contact us so we can help you see that we can be trusted with your foreclosure matter!