PRLog - Feb. 28, 2012 - WINSTON-SALEM, N.C. -- Bella Homes LLC was promoted as a "foreclosure auditing" firm by multi-level marketers online who would eventually go on to defraud an estimated 450 homeowners in the foreclosure process out of $3,000,000 (USD).
Bella Homes LLC Foreclosure Scam Shut Down
Ever since the real estate bubble of late 2007, early 2008 millions of American homeowners have witnessed their "American Dream" of home ownership evaporate right before their eyes and become their worst "Nightmare..."
Foreclosure can be a devastating experience if not handled quickly, professionally, and seriously.
In brief many foreclosure scams have come out of the woodwork to do nothing but prey upon desperate, and scared homeowners with false, and empty promises usually resulting in tremendous monetary loss as well as peace of mind. Bella Homes LLC happens to be one of those "scam foreclosure companies."
Let's face it... The mere word "Foreclosure"
Bella Homes LLC has been alleged in convincing unsuspecting homeowners to transfer their home titles to Bella Homes and enter into a type of lease agreement, where the homeowners would then rent or lease their homes back for a fee. Bella Homes claimed if would work to stop foreclosure and would purchase the homeowners' mortgages, according to the release. In exchange, Bella Homes LLC allegedly promised frightened homeowners that Bella would help them avoid being evicted by the bank.
Foreclosures and evictions unfortunately go hand in hand, and the eviction process is EXTREMELY stressful, not to mention humiliating. Bella Homes LLC told homeowners they would have an exclusive option to "repurchase their homes in three years for 90 percent of its fair market value and receive credit for 60 percent of the rent paid to Bella Homes." Homeowners would also "enjoy a mortgage payment following their repurchase that is 40 percent to 60 percent lower than previous payments."
To make matters worse the government alleges that Bella Homes LLC did not pay off or assume the existing mortgage, nor did it make make mortgage, tax or insurance payments on the property. Prosecutors contend the promises made by Bella Homes were false and the company actually did very little to help homeowners in foreclosure.
If you're experiencing foreclosure or you know someone who is please reach out and contact your local professional real estate attorney to see what are your varying options. Please remember that each foreclosure is unique, which means that some may be successfully handled, while others may not, but at least give yourself, and your family a chance by weighing out your options.
Foreclosure is a very serious matter and doing nothing or doing the wrong thing may cause detrimental effects towards your financial well being and in some cases your emotional status.
Read this very informative ebook below which may answer a lot of underlying questions you may have pertaining to the foreclosure process.
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