Home Alone: Home Mortgage Foreclosure Rescue Scams and the Theft of Equity
Mortgage foreclosures caused by predatory lending and subprime mortgages seem to garner front page headlines on a daily basis. Greedy mortgage brokers, greedy banks, greedy investors, and financially illiterate consumers all share some blame for this crisis. However, the Mortgage Foreclosure Rescue Scam (MFRS) has caused a crisis of its own for decades. This article describes how MFRS works. It gives a detailed account of an actual victim of MFRS and proposes several solutions to prevent the scam, when the elderly are its target
Nathaniel C. Nichols. "Home Alone: Home Mortgage Foreclosure Rescue Scams and the Theft of Equity" Journal of Affordable Housing and Community Development Law 11 (2002): 280.
Available at: http://works.bepress.com/nathaniel_nichols/3