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Foreclosure Fraud Prevention

Florida homeowners facing foreclosure are vulnerable to being scammed by con artists who pose as would be rescuers. The Florida legislature has enacted statutory remedies to assist victims of foreclosure fraud. Section 501.1377, Florida Statutes protects Florida homeowners from being taken advantage of by foreclosure con artists who:

Offer advice in exchange for money to homeowners in foreclosure
Enter into any transaction with a home owner designed to “rescue” them from foreclosure

“Foreclosure rescue consultants:”

It is unlawful to charge money in advance for offering advice to stop, avoid or delay foreclosure proceedings or curing a default or late mortgage payment before such service is rendered. The homeowner must given a written agreement, which can be cancelled within three days without obligation. The statute imposes certain requirements for such written agreements.

“Foreclosure rescue transactions:”

The statute protects homeowners in foreclosure who enter into agreements that are designed to stop, avoid or delay foreclosure proceedings. Such agreements must be:

Written
Disclose the identity of the buyer
Conspicuously disclose the homeowner is selling his property
Contain a three-day cancellation right

Agreements providing for repurchase, including leases and options, are presumed to be loans. Agreements that require the homeowner to repurchase at excessive prices are unenforceable.

Violations of the Florida fraud prevention entitle the homeowner to recover damages and attorneys fees. If you believe you may have been victimized by foreclosure scam artists, call Badgley Law Group today at (407)781-0420 to discuss your rights under Florida law.

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Contact Board Certified Civil Trial Attorney Jeff Badgley today!

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Learn even more about Florida Law at our blog on http://www.floridalegalmalpractice.blogspot.com/