Freddie Mac is hoping YouTube can help prevent troubled borrowers from losing their homes, or at least preserve their equity.

The company, one of the nation’s largest investors in residential mortgages, has produced a video that is posted on the popular Internet site at www.youtube.com/avoidfraud. The company said it wanted to try a different way to reach homeowners.

Freddie Mac developed the idea after a new survey found that one in four delinquent borrowers search the Internet first before contacting their bank or lender to find out how to avoid losing their home.

Such searches can send them right into the hands of someone with the sole mission of stealing the equity they have in that home. Although home values have fallen in many areas of the country, many financially strapped borrowers still have equity. It’s that money these fraudsters are after.

The prevalence of foreclosure scams across the country is a troubling trend, said Robb Hagberg, manager of fraud investigations for Freddie Mac.

Hagberg said a large fraud case discovered in Boston involves a group of homeowners targeted by a mortgage broker, who shared an ethnic connection with his victims. Because the case is still under investigation, Hagberg couldn’t release any specifics. But he did share a broad outline of how one woman became a target.

The homeowner fell behind in her mortgage payments. Her outstanding balance on her mortgage was $180,000. Her house had a market value of $300,000.

The woman was contacted by the broker. Because this man shared a common heritage and found her through community connections, the homeowner trusted him. The broker promised the woman he would help her secure new financing and avoid foreclosure. Instead, he conned her in an elaborate “equity stripping” scheme that involved multiple loans.

Equity stripping occurs when a con artist elicits the help of a straw buyer to purchase the home. Either working in concert or without the knowledge of the straw buyer, the fraudster gets the homeowner to sign over the title to the buyer, who takes out a loan for 100 percent of the value of the home. In the case of the Boston woman, she thought she was signing paperwork that would allow her to rent the home with the option to buy it back at a future time.

After closing costs, fees and past-due mortgage payments were paid, $100,000 was left over. Possibly with the help of the settlement attorney, a check for the $100,000 was illegally made out not to the straw buyer but to the broker, Hagberg said.

Amazingly and brazenly, the con didn’t end there. The first straw buyer didn’t make the mortgage payments. To avoid having the home foreclosed on, the broker recruited a second buyer to purchase the home from the first straw buyer. A second appraisal, which Hagberg said may have been inflated, showed the home had increased in value to $415,000.

After a second closing with the second straw buyer, the broker fraudulently walked off with another check for $110,000 of equity from the same property. The original homeowner was unaware of the second purchase or that the mortgage payments were not being made.

Because neither the first nor second straw buyer had plans of paying the mortgage, the home went into foreclosure. The woman lost her house.

“It’s ugly,” Hagberg said of the Boston case.

Heartbreaking comes to my mind.

So why would the Boston homeowner and so many others allow someone to walk off with their equity?

One word: Desperation.

People are so desperate to prevent their homes from going to foreclosure they will believe anything and anyone. The woman in Boston was looking for a savior but found a skunk.

What many homeowners can’t bear is letting the home go. But it’s better to sell it or even let it go through foreclosure and pocket any equity yourself than just give it away to a criminal.

People turn to these crooks because they often aren’t aware of legitimate ways to work out their loan problems.

When Freddie Mac two years ago first looked at what homeowners do when faced with a foreclosure, 61 percent of survey respondents were unaware, without any prompting, that there may be a way to avoid losing their homes. The options may include a forbearance or repayment plan. In an update of the survey, the company found 57 percent were unaware of their options.

At least that’s some progress.

As pointed out in the YouTube video, if you’re having trouble paying your mortgage, don’t rely on the superhuman promises of a foreclosure hero, because if you do, you’ll likely end up being cheated by a villain.