Troubled homeowners, beware of 'mass joinder' lawsuit invitations

Reporting From Washington — What financially strapped homeowner wouldn't want to join other troubled owners in a last-ditch effort to save their homes from foreclosure? But beware of unsolicited mailings inviting your participation in a "mass joinder" lawsuit as a way to do so.

Mass joinders can be just another way to separate desperate borrowers from their money — as much as $5,000 or more in upfront fees, according to the St. Louis Better Business Bureau. The bureau warned earlier this year that the mailings are the latest twist in scams that promise to force lenders to modify the loans of borrowers who no longer can afford their house payments or who owe more than their homes are worth.