Recovering Sheriff’s Sales

How the scam works:

In the United States, a Sheriff's sale is the last step in a foreclosure process.

It is an auction held to liquidate a property on which a mortgage borrower has defaulted– it allows banks to recover money lost when a mortgage borrower defaults on a loan.

Crooks create companies with the claim that they will assist former owners of properties sold at Sheriff's sales, promising victims they will help them recover their properties or the proceeds from the auction. There are some legitimate companies that provide these services, but it's a matter of separating the real ones from the fake ones.

Not only do the scammers charge former owners an up-front fee, providing nothing in return, but they ask for driver license photocopies and personal info as well.

It has been reported that fraudsters alter the driver licenses and submit them to title companies with fake Power of Attorney documents, in order to steal Sheriff's sale proceeds due to other former property owners.

How to avoid the Recover Sheriff's Sales scam:

Don't fall for such a thing. Never pay any fees up front.

How to report the Recover Sheriff's Sales scam:

Make your family and friends aware of this scam by sharing it on social media using the buttons provided. You can also officially report the scammers to the Federal Trade Commission using the link below:

Report To The FTC Here

 

How to protect yourself more:

If you want to be the first to find out the most notorious scams every week, feel free to subscribe to the Scam Detector newsletter here. You'll receive periodical emails and we promise not to spam. Last but not least, use the Comments section below to expose other scammers.

 

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Lee V.

If you really want to help the public, You should not spread misinformation. While is true that crooks used the methods you described above (you created this article based on a real Philly case-Rashid et al.)to impersonate beneficiaries, the important point is that there are huge amounts of money as surplus proceeds from sheriff foreclosure sales, all across the country. Yes, your house might be gone, however, you should tell your readers that before they start "getting something else" to check to see if there are, and also claim, surplus sale proceeds from the house they just lost. Not all… Read more »

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