Facing foreclosure? Some good advice

[TexasLawyer]

Facing foreclosure? Don't fall victim to vultures with 'rescue programs'

By Ian Katz
South Florida Sun-Sentinel
Posted November 13 2006

Gripped by fear, many financially troubled South Floridians are falling victim to foreclosure schemes that can rob them of their homes and their equity. Real estate experts say the occurrence of fraud is growing with the number of foreclosures, which has soared in Broward, Palm Beach and Miami-Dade.

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Firms making dubious claims approach homeowners and promise to help them keep their property. While some so-called foreclosure rescue companies are legitimate, many fleece people who are so desperate that they agree to deals they don't fully understand.

In one common scheme, the fraudster persuades the homeowner to sign over the property and pay rent to keep living in it. When the owner-turned-renter believes he's eligible to regain the title, the fraudster refuses to cooperate.

Signatures, documents and all sorts of data are forged or fabricated in the most blatant cases. The victims are typically poor or working-class homeowners with little knowledge of real estate transactions. "It's pure, unadulterated fraud," said Roy Oppenheim, a Weston lawyer who handles real estate cases. "You've got to be so depraved to do that."

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http://www.sun-sentinel.com/business/local/sfl-ybcover13nov13,0,4461309.story?coll=sfla-business-front

[flvegan]

1. Never sign a deed of any kind unless you intend to convey the property.

Estate planning amongst family aside, this is the best, simple advice I can see being given out. Even if you get a deed in return, to be recorded later, conveying the property back to you, the vested owner can, behind your back, mortgage or otherwise encumber the property unbeknownst to you. Then, you're really screwed.

on edit: spelling.