The rise in foreclosures has caused some to become desperate to save their credit and as much money as possible. Residents look for ways to avoid the crunch. Meanwhile, others look to profit from the situation. Beware of equity skimmers.
A man in Las Vegas tells debtors he will buy a home and rent it out. He then defaults on the payments and makes off with the rent income. The bank forecloses on the original owners anyway.
If you are approached by someone trying to save your home be sure to research the scenario carefully. It is best to contact a sincere real estate professional to investigate your options.