BEWARE OF COVID-19 HOME RESCUE SCHEMES

We want to assure our community that TPA shall remain vigilant to ensure consumers are not scammed or defrauded during and after the COVID-19 crisis.

Unfortunately, and as past history has taught us, once the dust begins to settle, many homeowners will find themselves in financial disarray. These unsuspecting individuals may be targeted by unscrupulous foreclosure rescue companies. Peddling a “foreclosure rescue scheme.”

A foreclosure rescue scheme is a type of fraud that takes advantage of homeowners who have fallen behind on their mortgage payments. The fraud perpetrator approaches the homeowner with promises of paying off the delinquent mortgage and helping the homeowner stay in the property.

The homeowner is told they can stay in their home and rent back from a Good Samaritan ‘investor.’ The homeowner is then convinced to transfer the title of the home to the ‘investor’ as collateral. The ‘investor’ promises that the homeowner can continue to live in the home and repurchase it later or promises them new financing. The home is almost always sold, and the homeowner is later evicted.

TPA was quite successful litigating fraud cases during the mortgage-lending crisis in 2007-2010. Our experience protecting the victims of predatory banks and rescue schemes places us in a unique position for overseeing and preventing similar scams after the COVID-19 crisis has ended.

If you suspect you are being scammed, please call us first.

Trivino Perez & Associates is operating virtually with full access to phone and email communication during our regular business hours. Our physical office is currently closed in adherence to Governor Newsom’s March 19, 2020 Order N-33-20. Please refrain from communication by mail in order to reduce the spread of viruses and other illnesses being transmitted on physical documents.

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