Con artists use publicly available foreclosure notices to find victims for their equity stripping scams. Rather than toss out a press release warning consumers, Freddie Mac produced this YouTube video after exhaustive research showed that most foreclosure notice recipients use the internet to research their situation before calling their lender. Equity strippers convince delinquent borrowers to sign the over the deeds to their homes in exchange for miraculous salvation. The con artists then take out and pocket a new loan for the full market value of the house. Avoid equity stripping scams by dealing exclusively with your lender.
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