Archive for the ‘Bankruptcy’ Category
Foreclosure and Bankruptcy
In this case, the scam artist may promise that if you pay a fee in advance he will negotiate with your lender or get a refinance on your behalf. But instead of contacting your lender or refinancing your loan, the scammer keeps the money you paid in advance and is filing for bankruptcy or bankruptcy in your name – sometimes this can happen without you knowing .
Often, the initiation of a bankruptcy process stops the execution of a dwelling, but only for a period of time. Moreover, the bankruptcy process is always complicated and costly. For example, if you do not attend the first meeting with creditors, the bankruptcy judge will dismiss your case and continue with the procedures of implementation.
If so, you could lose the money you paid to the scammer and his home. Even worse, a bankruptcy or bankruptcy stays on your credit report for 10 years, and this can cause difficulties in obtaining credit, buying a home, get life insurance and in some cases you may have trouble getting employment.
Where to Find Legitimate Help
If you have trouble paying your mortgage or if you received a foreclosure notice, establish contact with the lender immediately. You may be able to negotiate a new payment program. Remember that in general, lenders do not want to foreclosure because they are procedures that cost money.
Red flags warning
If you are looking for help to avoid foreclosure on your home, avoid businesses that say or do the following:
* You’re guaranteed to stop the foreclosure process – regardless of their particular circumstances.
* You say that you contact your lender, lawyer or credit counselor or housing.
* We charge a fee before providing the service.
* Only accept payments by check, cash or transfer funds.
* We encourage rent your house to buy it back with the passage of time.
* You are told that they will pay fees directly to your mortgage instead of pagárselas to your lender.
* You are told that the deed or transfer title to your house to their name.
* We offer to buy your house for cash not paying a fixed price established by the housing market at the time of sale.
* We offer complete documentation or forms for you.
* The pressure to sign documents or documents that you do not understand without an opportunity to read them carefully.