The Council of Better Business Bureaus has issued an international alert to homeowners warning them to be wary of scam artists offering to help them out of their current financial predicament and buy their house from them.

In many cases the victims of these scams are being evicted from their own home after unwittingly signing over title to the property via a quitclaim deed. Even worse, they are out of their own house and end up still responsible for the same monthly mortgage payment they couldn't afford in the first place.

For subscribers to RealtyTrac, there is some good, and some not so good to take away from this latest round of rampant real estate fraud. On the not so good side, these scammers — some of them greedy lenders — are using the same marketing methods to get noticed that legitimate real estate investors, agents and buyers use to buy properties in foreclosure — postcards, e-mails, phone calls, etc. These bad guys are giving the good guys who really want to help these folks out a bad name and reputation in the eyes of the consuming public.

With foreclosures increasing dramatically in certain parts of the country, these senior citizens or desperate/distressed homeowners are caught unaware of the scam. And with interest rates rising for more than two years now, these homeowners are finding themselves stuck with a less than desirable mortgage — either an option ARM or interest-only loan — and the threat of foreclosure looming overhead.

The good side of this issue for investors, agents and buyers looking to shop foreclosures is the opportunity it presents to distance yourself from these scammers — and the competition — through some original, customized advertising and marketing of your own that would keep your reputation and credibility intact.. And it’s likely that by calling attention to the problem, the CBBB will help eliminate some of the scam artists, leaving the market open for legitimate investors.

Despite recent declines in foreclosure activity nationwide, foreclosure numbers are still up over last year's levels. With real estate fraud rearing its ugly head again, these scammers ARE your competition -- especially in those markets seeing increased activity. Before going forward with a particular property in one of those markets, therefore, it would be advisable for an investor to check with the local BBB whether the area is currently considered a target for scam artists so that you can refine your marketing message as a legitimate investor.

Just consider it another part of your assigned homework you would do in preparation for buying your next property. And, as always, RealtyTrac is here to help you with that preparation.