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Watch Out for Fraudulent ‘Foreclosure Rescuers’
By admin | September 15, 2009
Recently, Robert E. Power, Jr, a self-proclaimed foreclosure rescuer, pleaded guilty in federal court to bankruptcy fraud. His company, Yorkshire Financial Services, was targeting homeowners at risk for foreclosure. Yorkshire represented that they could negotiate new mortgages for the homeowners or arrange for refinancing. In exchange for their services, Yorkshire had the homeowners transfer their homes to Yorkshire.
Properties transferred to Yorkshire were then placed into bankruptcy without the homeowners’ knowledge. Eventually, the homes were foreclosed upon by the bank anyway, or sold through straw buyers via fraudulent loans, whereby Powers would receive cash from the sale. The homeowners lost their homes while Powers gained a profit from the fraudulent activity.
WARNING: Beware of companies who say they can get you out of debt, refinance your mortgage, or stop a foreclosure. Despite what you hear and read, getting out of a foreclosure situation is not easy. If it sounds too good to be true, it probably is.
At Mark Godbey & Associates, we have been helping people in Greater Cincinnati, Dayton and Northern Kentucky with home foreclosure problems for over twenty years. Our bankruptcy attorneys will give you the correct legal advice about your rights when dealing with foreclosure. If you decide to file a Chapter 7 or Chapter 13 Bankruptcy, protection from foreclosure is a guarantee, not just a possibility. Often, a bankruptcy is not necessary, but when it is, we can assure you that it is legitimate and will be done correctly, giving you the protection of the Federal Bankruptcy Court. For more information, visit our web site at: www.GodbeyLaw.com To schedule a free consultation, call us at 513-241-6650.
Topics: Bankruptcy, Foreclosure | No Comments »
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