Foreclosure is an already overwhelming process in itself, but the bad can turn even worse for the many homeowners who find themselves victims of scams each year. As a homeowner facing foreclosure, it is essential that you are wary of these scams that have manifested themselves in several forms, especially online. Equity skimming, which is a very common scam, involves a buyer that promises to pay off your debts if you deed the property to him. In these cases, be aware that without a contractual agreement, you are simply giving away your property, not relieving yourself of the loan or foreclosure. The basic rule of thumb when spotting scams is that you should not be rushed through the process. If you are without professional help, and are being urged to sign over your title to a company quickly, take note that the company could possibly be a scam. At this point, you should first contact the Better Business Bureau (BBB), and then consult with a lawyer for more help. Other noted scams related to foreclosure include foreclosure school, counseling agencies, and balloon payments.