In recent months, we’ve all watched the rise in commercial and residential foreclosures. The laws regarding publication of properties scheduled for sheriff’s sale formerly only required the legal description of the property. The common, or street address is much more difficult to acquire. A few weeks ago, Governor Granholm signed into law the Home Foreclosure Prevention Act, which goes into effect July 5th, 2009 and requires lenders to publish the common address and name of the individual facing foreclosure.
While this requirement may have been designed to help families be made aware of their rights about foreclosure, it also makes more personal information available. This could increase accessibility for scam artists or companies that fraudulently claim to help families out of foreclosure. If you are in a foreclosure or pre-foreclosure situation, please take the time to research your options and find out for yourself what possibilities an individual or company may actually be able to offer you. As someone who has been in this field for over three years, I can assure you I have seen many different instances in which unethical persons have taken advantage of unsuspecting families. I encourage you to be cautious during these times; after all, forewarned is forearmed.
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