For Arizonans facing foreclosure, the promise of a quick solution can be enticing. Unfortunately, not all offers of assistance are legitimate.
A recent lawsuit filed by the Arizona Attorney General’s Office alleges hundreds of Arizona homeowners were deceived by predatory cash home buyers masquerading as a fake charity.
The Tactics of Predatory Cash Home Buyers
According to the lawsuit, a group called Gazelle Investors engaged in an equity-stripping scheme that left struggling homeowners worse off.
The scheme involved a nonexistent charity called Arizona Helping Hands, which sent individuals to knock on doors and offer homeowners assistance in avoiding foreclosure.
However, instead of providing genuine help, these representatives allegedly used high-pressure tactics and deceptive contracts to convince homeowners to sell their properties at below-market prices before they went to foreclosure auction.
Once Gazelle Investors secured the homes, the firm was accused of tapping into the properties’ equity — or the wealth that homeowners could have retained had their homes gone through a standard foreclosure sale.
The Arizona Attorney General’s Office described the operation as a violation of the Arizona Consumer Fraud and Racketeering acts, emphasizing the serious financial and emotional toll on affected homeowners.
Andrew Draayer of Andrew The Homebuyer
The Difference With Andrew The Homebuyer
“Scams like these break my heart,” Andrew Draayer of Andrew The Homebuyer said. “Too many hardworking families find themselves taken advantage of by unscrupulous cash home buyers who claim they are there to help.”
“Andrew The Homebuyer is different,” he continued. “Our goal is always to ensure homeowners get a fair payout for their home.”
Recently, a customer in her 80s was widowed and seeking to sell the home the couple bought when they were young. She asked Andrew The Homebuyer to simply pay the amount it had been worth in 1976.
“If she had called anyone else, she likely would have been offered a deal on the spot because she was undervaluing her home so much,” Draayer said. “But we will not sacrifice our reputation with scams and ripoffs. We care about fairness and transparency.”
The Andrew The Homebuyer team helped the woman call her daughter and work together to reach a fair price.
“If you are facing financial hardship, be careful of unsolicited offers, particularly those that involve pressure tactics, rushed decisions or promises that seem too good to be true,” Draayer said. “Call Andrew The Homebuyer instead to know you’ll actually be in good hands.”
How to Protect Yourself from Home Buying Scams
If you or someone you know is at risk of foreclosure, consider the following steps to protect against fraudulent schemes:
- Verify Legitimacy – Research any company or individual offering foreclosure assistance. Look up their business credentials, check for complaints and consult trusted sources such as state regulatory agencies.
- Be Skeptical of Unsolicited Offers – Scammers often target homeowners through door-to-door visits, mailers or phone calls. If an offer comes out of the blue, proceed with caution.
- Read the Fine Print – Never sign a contract without fully understanding its terms. Seek legal or financial advice before agreeing to any deal that involves selling your home.
- Explore Alternative Solutions – Contact your mortgage lender to discuss loan modification or forbearance options. Nonprofit housing counselors can also provide guidance on foreclosure prevention.
- Report Suspected Fraud – If you believe you have been targeted by a scam, report it to your state’s Attorney General’s Office or the Consumer Financial Protection Bureau.
By staying informed and vigilant, homeowners can protect themselves from falling victim to predatory schemes. If you’re facing financial hardship, seek help from reputable sources and avoid making rushed decisions under pressure. Your home is one of your most valuable assets — don’t let fraudsters take it away.
Andrew The Home Buyer We Buy Houses For Cash Logo
