Families Turn to Self Storage After Falling Prey to Loan Modification Scams

The nation is slowly coming out of the recession, and unemployment rates are starting to drop. But many people, even after getting a new job, are struggling to catch up on their debts -- especially back mortgage payments. Bankruptcy rates are slowly rising. All too many families, seeking bankruptcy protection or trying to avoid foreclosures, have fallen prey to financial scams. One common scam occurs when a company takes money from a family, agrees to make arrangements for a mortgage loan modification with the bank or lender, and then does nothing, letting the property go into foreclosure. Ironically, some people have gone into foreclosure or bankruptcy right after becoming employed again. Many such families have turned to self storage facilities at the last minute, storing their possessions while looking for a place to live. [More]