Officials: New Foreclosure Scam Preys on Desperate Homeowners

Tim and Jenny Lawson say they were three months behind on their $390,000 mortgage when they received a letter from a company called U.S. Loan Auditors offering help.

“Your lender … is currently under investigation for predatory lending. Based on our information you may be a victim, and may qualify to participate in a lawsuit against them,” the letter said.

The couple paid U.S. Loan Auditors $8,900 over five months, and on the company’s advice, stopped making their mortgage payments, Jenny Lawson says. A lawsuit was filed on their behalf, but only after their home was foreclosed, she added.They were evicted from their three-bedroom home in September. Today, they live in a 29-foot-long recreational vehicle in a trailer park an hour south of Sacramento in Isleton, Calif.

via Officials: New Foreclosure Scam Preys on Desperate Homeowners.

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