Weekly Fraud Alert: Leasing back home
To maneuver around federal laws prohibiting people from charging up-front fees for mortgage modification, fraudulent mortgage modifiers are approaching homeowners in default and offering to pay cash for the home and lease it back to the owners.  However, once the mortgage is paid off, the scammer effectively owns the house and does not lease it back to the original owner.  (Information taken from the California Association of Realtors newsletter today.)