Senator To Introduce Bill To Protect Against "Rescue Scams" - WAOW - Newsline 9, Wausau News, Weather, Sports

Senator To Introduce Bill To Protect Against "Rescue Scams"

WISCONSIN -- In this time of economic uncertainty.. losing your home is a real threat for some. But losing it to a scam artist is even worse. Senator Herb Kohl plans to introduce legislation protecting homeowners from what he calls "rescue scams". That's when fake companies contact people who are about to lose their homes due to foreclosure. "They convince them to sign over in effect their home and their savings, their equity in the home by promising quote, sign here, every thing's going to be just fine," Senator Kohl says. Kohl says that before signing anything.. you should talk to your attorney, banker or lender. He says these "rescue scams" are a growing threat.. because 17 thousand Wisconsin homeowners filed for foreclosure last year. That's up 131 percent from 2006.
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