Foreclosure Rescue Arrangement Leaves Los Angeles Homeowner Facing Eviction

In Los Angeles, California, the CBS Evening News reports:

• Alexendria Craig's house is full of memories. It was her parents' home and she inherited it when they died. A picture of her great grandfather sits on the mantle. Now she is about to lose that home after taking out a series of high interest loans that have left her hopelessly in debt.

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• Desperate to hold onto her house, she answered a slick sounding ad that turned out to be too good to be true. Craig agreed to pay $30,000 and to share title on her house to a foreclosure rescue company. The company said it would use equity in her house to pay off her debts, and that her credit would be repaired. After a year she thought she'd get her house back.

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• Her house is in foreclosure, and next week she's facing eviction. Both the foreclosure rescue company and the bank foreclosing on her house deny any wrongdoing.

For the story, see For Desperate Homeowners, Scams Abound (How A Company Promising Help Cost One Woman Her American Dream). Go here for video. loan modification