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Scams Target Delinquent Homeowners

'Equity strippers' deceive borrowers behind on their mortgage payments

By Dustin Lushing,  Newser Staff

Posted Jul 3, 2007 5:45 PM CDT

(Newser) – A new form of fraud is thriving in the declining housing market, targeting desperate homeowners who are late on their mortgage payments. Known as equity strippers, companies cold-call burdened borrowers, promising a reprieve from their financial woes. In the end, they profit, and the owners...   Read full story »

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