The scam: Foreclosure prevention/land patent scam
How it works: People have reported attending “seminars” throughout San Diego County at which they're told they can protect their home from foreclosure by obtaining a “land patent” on their property for a sum of $500 to $15,000. They're instructed to remove the mail receptacle and street address numbers from their house and “trademark” their name to prevent foreclosure. The seminar hosts say these actions will help homeowners renegotiate their promissory notes and trust deeds with the lender and, as a result, be required to pay only 10 percent of their previous monthly mortgage payment. These seminars are scam operations designed to take advantage of homeowners' fears and steal their money. They won't protect consumers from foreclosure.
Who's affected: Any homeowner who attends one of these “seminars.”
What to do: Do not pay for any “land patent” advertised at a foreclosure-prevention seminar.
Whom to report it to/for more information: Contact the San Diego County District Attorney's Real Estate Fraud Hotline, (619) 531-3552.
– R.J. IGNELZI
