With the current U.S. mortgage situation in a state of flux and foreclosures at all-time highs, scams are rampid. And while the majority of lenders, large and small, are honest businessmen, there will always be a few who will grasp any situation to profit from dishonesty. These unscrupulous individuals frequently target the frailest members of society as their primary marks, including old people, those in terrible financial straits and those who are deeply in debt with few escape options. The current mortgage mess fallout represents a golden opportunity for the dishonest.

Rapacious lending is a word that defines unjust mortgages. They are usually targeted toward people desperate to refinance and willing to take risks in order to solve short-term crisis situations in their lives. This includes people under the yoke of crushing debt who would do virtually anything to escape from it and those seeking a foreclosure rescue siuation. In this mental and emotional state, they are ripe picking for the mortgage scam artists.

The only way to truly avoid mortgage scams is to be educated about how they work so you can recognize the signs. Or to borrow only from larger, established lenders who have well-known reputations. The latter, of course, is usually not an option when your on a sinking ship devoid of life rafts. One does not need to be an expert to understand and recognize the hallmarks of a scam; merely to be sufficiently aware of them and take adequate time to carefully consider the details of any offer. The old adage, “If it seems to good to be true, it probably is” definitely applies here. In today’s financial climate, foreclosure rescue scams are on the increase.

The most important thing to look for when searching for a mortgage, especially under difficult circumstances, is an honest, reputable lender. If you don’t know the company, a quick call to your local Better Business Bureau will alert you to any lodged complaints about the lender company. Remember that the mortgage scam artists will promise you anything to get a signature on the loan contract, but may not deliver what they promised. Read all the fine print. Ask questions. Demand answers before signing.

The actual details of mortgage foreclosure rescue scams are many and complex. In these days of the mortgage fallout mess, they are all too common. It is far better to protect yourself before hand than to try to escape from the scammer after the fact.