Texas State Closes In On Foreclosure Rescue Scammer

October 26th, 2007

Strange are the ways Man makes a living. Some like vultures pick the bones clean of victims already half dead by the foreclosure viral attack. Like vultures they have no conscience. One such company in Harris County is about to be shut down thanks to the intervention of the state initiated by the Attorney General Greg Abbott. By a restraining court order the assets of this Houston based unit has been frozen. The function of this company was to target foreclosure victims and in the name of helping them take away whatever is left in their pockets by way either of equity or cash.

The number of scammers in Texas rose in proportion to the number of foreclosures marching onwards. The region has proved to be a happy hunting ground for skilled scammer artists.

The company, Southern Residential, remains tight lipped and no comments were available from the person who picked up the phone only to put it down again. Phone messages for the manager and director of the company, Edward Casey, were left unanswered. Their lawyer was also not available. So far the unit had advertised on the web, in newspapers and television guaranteeing foreclosure. It was catchy enough to draw attention. The promises were all false. The money collected for non-existent services were never refunded. More than70 victims of rescue scammers have complained to Better Business Bureau (BBB) about their sad tale.

As yet El Paso is free from such types of vultures. ACORN (Association of Community Organizations for Reforms) says that more and more foreclosure victims from El Paso have started coming to them desperate to keep their houses. Abbott send out messages through his spokesperson Paco Felici, to contact a hot line number if they had any doubts about rescue scammers who come knocking. One should be cautious about too good to be true offers because in all probability they are really not true. It smells fishy and should instantly put the borrowers on the alert. The first thing to do is to contact the lenders directly and or bonafide help groups like BBB or ACORN.

Foreclosures have been taking their toll right through the country. The victims of the foreclosure notices fall into such a state of traumatized stupor that they are in no condition to think sanely. This is what the scammers take advantage of.

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