Lock rescue scams on the rise
After trying for months to refinance their homes and out of foreclosure, Alejandro and Martha Balderas thought they finally found their white knight: a mortgage and real estate investment company that offers “locking services Relief. ”
The company, Platinum Investment Group, promised the Chicago couple a loan against their house so they can repay their mortgage and stay in their homes.
The Balderas, in their early 40s, signed in April 2005 - only to find out shortly after they had signed over their homes and platinum, which subsequently sold. Unable to keep paying “rent” to the company, they are now threatened with expulsion. A lawyer representing Platinum did not return requests for comment.
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