Posts Tagged ‘banks’
Tips to Avoid Foreclosure Fraud
The FTC has a very interesting article about scams that exist in the country to “help” homeowners can save if they are in foreclosure with the bank:
The possibility of losing their homes because they can not meet your mortgage payments (foreclosure) can be terrifying. The reality is that scam artists are preying on the vulnerability of desperate homeowners, and it is equally frightening. Many of the alleged rescue companies or foreclosure assistance firms claim that foreclosures can help save your home. Some of these companies are so brazen enough to offer a money back guarantee. Unfortunately, when these scammers are left with your money leaving no resources – doing what they said they would.
You can save money and more trouble avoiding the business they do or say 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.
* Basically 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 cash to buy your house by paying a fixed price that does not correspond to the value of the property market at the time of sale.
* We offer complete documentation or forms for you.
* The pressure to sign documents or stationery without an opportunity to read them carefully or make you sign papers you do not understand.
What to do
* If you are having trouble paying your mortgage or already received notice of default immediately contact your lender or the administrator of your mortgage loan.