If you think back to when you first purchased your home, you'll probably remember your Ohio title company having you review and sign a variety of documents. The foreclosure process is just as paperwork-heavy as the closing process. It's when you're in your most vulnerable financial state while you're facing foreclosure that you're most apt to be defrauded by others.
When the Great Recession hit its peak in the United States in 2008, countless deceptive individuals and companies seemed to come out of the woodworks. Many of them set their focus on homeowners who were struggling to make mortgage payments. Some of them contacted unsuspecting homeowners within a week after they defaulted on their home loans.
In their letters, many outlined how they could rescue homeowners struggling to pay their mortgages. They demanded that they respond within a certain amount of days to their correspondence. If they did this, then the rescue service company promised to present a loan repayment plan to their lender right away once they paid a fee. These companies also offered other services and support at different rates as well.
Many homeowners hadn't yet lived through such a serious financial crisis before and weren't well-versed with how foreclosures typically are handled. Many fell for a scam like the one outlined above. Many ultimately found themselves in direr financial straights than they otherwise would have been because they fell for this fraud.
This type of scam isn't isolated to 2008 though. Consumers are still falling victim to foreclosure fraud still today. This is often happening because homeowners are ill-informed about how the foreclosure process works. Many don't realize that they can still work out a plan with their lender to bring their payments current up until the day their house is sold.
A foreclosure attorney who is experienced in protecting people's homes here in Medina can explain what options are available to you to in your case so that you don't get misled by fraudsters.