How to Avoid Foreclosure Scams and Real Estate Fraud

Friday , 10, March 2017 Leave a comment

One caveat is that some of the companies listed might not have staff manning the phones at all times. Be patient and determined, or you’ll be tempted to sign up with a company that you see on a billboard or television commercial.

You’re probably feeling desperate and overwhelmed if you’re facing the prospect of foreclosure. There are companies out there that can help you, but there are also those that feed on people when they’re most vulnerable. It’s important that you only accept help from a reputable company, and not from a dishonest mortgage Darcy Mercieca modification firm whose goal is to make a buck at your expense.

Read everything the company gives you, and consult with an attorney before signing anything. These companies want you to feel pressured to sign quickly so they can take your money-don’t let them push you around.

It’s important that you only accept help from a reputable company, and not from a dishonest mortgage modification firm whose goal is to make a buck at your expense.

If you decide that you want to try a private company anyway, there are a few critical things that you need to be aware of to keep yourself from getting taken for a very expensive ride. There are some legitimate companies that charge fees for helping homeowners get out of their foreclosure mess, but make sure that you receive some services before handing over a check.

If you’re going to pay someone to help you with your foreclosure, opt for a real estate lawyer instead of a mortgage modification company.

These companies want you to feel pressured to sign quickly so they can take your money-don’t let them push you around.

Don’t ever listen to someone who tells you to make your mortgage payments to them instead of to the bank; they’re trying to scam you. Ask questions, get them to put each one of their promises in writing, and obtain copies of every piece of paper you sign. If a company asks you to sign a contract that has empty lines, don’t.

If you decide that you want to try a private company anyway, there are a few critical things that you need to be aware of to keep yourself from getting taken for a very expensive ride. There are some legitimate companies that charge fees for helping homeowners get out of their foreclosure mess, but make sure that you receive some services before handing over a check.

All the companies listed on HUD’s website have been approved by the Department for Housing and Urban Development, and offer services that are free of charge. As the site says, “There is no need to pay a private company for these services.”

There are many companies out there that will charge unreasonable amounts for doing minimal work. If you’re going to pay someone to help you with your foreclosure, opt for a real estate lawyer instead of a mortgage modification company.

Never agree to transfer your deed to a mortgage modification company. If you’re facing foreclosure, talk to your lender, find a real estate lawyer, and if necessary, locate a HUD-approved counseling agency in your area.

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