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Foreclosure relief fraud is on the rise nationwide and costing homeowners their homes.

Some of the most profitable (for crooks) illegal money making

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

schemes on the rise nationwide are foreclosure relief fraud. These scams are expected to escalate in popularity among crooks as more and more people

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

default on their mortgages in the future. These scams involve crooks who rip off people’s homes and equity after promising to help relieve the home f

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

rom foreclosure.

What are the categories of foreclosure relief scams?

Phantom help In this scenario, the scammer charges ex

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

orbitant fees for simple phone calls and paperwork that the homeowner could do himself. Or, the fraudster will make a promise to represent the homeow

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

ner and fail to follow through. The homeowner receives very little help from the scam artist to prevent foreclosure from occurring.

Bail

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

out The crook bails out the homeowner by helping him dispose of the house. The scammers trick the homeowner into giving up the title to the hou

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

se on the promise that they can stay on as renters and buy the house back once things improve. Ultimately, the homeowner can not buy the house back,

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

and the con artists get most of the equity.

Bait and switch This scenario is much worse than the bait and switch routine performed b

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

y crooked car dealers. At least with those scams, you end up with a car even though you spend more money for a different car than the one you origina

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

ly wanted. In real estate, this routine involves signing away the ownership of your home.

The fraudsters will convince the victim that t

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

hey are signing papers for a new loan that will solve their problems. In reality, they are signing forged documents that will transfer ownership of t

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

he home to the crooks. To make matters worse, the victim will still owe money on the mortgage but will no longer keep the house.

Perpetrators of

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

foreclosure relief fraud prey on the weak and desperate

Many homeowners who default on their mortgage and face the possibility of foreclosure hav

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

e a different mentality than those whose payments are made in a timely manner. Such homeowners are desperate people and will believe anything they ar

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

e told by foreclosure relief “experts.”

This scam is relatively new, and the laws are so cloudy regarding them that local authorities have been unwil

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

ling to do something about it. Even if the crooks were prosecuted, it would probably not be enough to save the home from foreclosure in the first pla

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

ce.

If you are a homeowner who is facing foreclosure, beware of those perpetrators who will attempt to swindle you out of your own castle. There

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

are ways to circumventing foreclosure if you know where to look.

Be on the lookout for foreclosure crooks if that time comes so that you can mini

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

mize becoming a victim to this crime of theft by deception.

Hopefully, there other laws that can be used to prosecute such perpetrators of this crime

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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