Equity Skimming – A “buyer” offers to get you out of financial trouble by promising to pay off your mortgage or give you an amount of money when the property is sold.  The “buyer” may encourage you to move out quickly and deed the property to him.  The “buyer” collects rent for a period of time but does not make any mortgage payments, allowing the lender or loan servicer to foreclose.  Even though you’ve signed over your deed, you are still obligated to pay the loan!
 

The Bailout – You are tricked into signing over your home’s title based on the belief that you can stay in the home as a renter and be able to buy the home back over time.  Unfortunately, the terms of the buy-back are impossible to meet, so you lose your home while the “rescuer” gets the equity.
 

The Bait & Switch – You are tricked into signing your home over to the “rescuer”, thinking that you are actually bringing your mortgage current.  The “rescuer” does not pay the mortgage, so your home still goes into foreclosure.  You may not even realize this has happened until you receive an eviction notice.
 

Phantom Help – A “rescuer” charges extremely high fees for phone work or paperwork that you, the borrower, could easily do yourself.  None of the “rescuer’s” efforts save the home.  This scam gives you a false sense of hope, preventing you from seeking qualified help.
 

Phone Counseling Agencies – These agencies charge a fee for services you can do yourself for free.  For a list of qualified housing counselors, visit http://foreclosurehelp.nv.gov/HousingCounselors.html.