Reply #9: A new scam is born.

[fasttense]

A lawyer can get the original homeowner, who was foreclosed on, to file suit against the bank who foreclosed. If the lawyer does a little homework and finds out there was fraud involved, a good firm can make a killing on getting the original homeowners property back free and clear.

The scam comes in when the law firm claims they can get the house back, free and clear for the original owner who had gone through foreclosure, while collecting huge fees. Then in the end say oh well, there wasn't any fraud involved.

Mark my words this scam is coming to a city near you.

I've been contacted already by a law firm, on the other side of the country, trying to get me to file suit against my bank for the low, low cost of $2,500 and guaranteeing a 2% refinanced rate. It was too good to be true so I told him to take a hike.