Hotline Warns of Phony Schemes

A 24-hour real estate hotline is now available to homeowners seeking protection from fraudulent contractors, “foreclosure consultants,” phony lenders and equity purchasers, and other property scams.

One of the more common frauds involves “foreclosure consultants,” who pretend to save one’s home by getting the owners to sign “routine” papers to stop the foreclosure. The paperwork actually transfers the property title to the bogus consultant.

Seniors often are the victims of frauds in which their signatures are forged on deeds of sale. The con artist then uses the document to obtain large loans.

Seniors also have reported receiving official-looking mailed solicitations with offers to help them apply for property-tax assistance. The homeowners are charged bogus fees for the assistance programs, which actually are free.

To learn more about real estate fraud, call the County of Los Angeles Department of Consumer Affairs: (800) 973-3370. Or visit their office at 7807 S. Compton Ave., Los Angeles, on Mondays and Wednesdays.