Don’t Get Scammed in Your Foreclosure
Posted on December 4, 2008
Filed Under Foreclosures |
When a formal notice of foreclosure is published, recorded, or filed in court, it is public knowledge. Looking for homeowners that are in financial trouble, these scammers read these legal notices. They become aware that you under financial stress and equipped with your name and address, these con artists start to prey on you. It is bad enough you are in foreclosure; you don’t want to lose what you have to a con artist.
You may receive an offer of help from a “Foreclosure Rescue Company”. After these con artists have combed the public records and found their prey, they call these people. They try to con you into believing that they have the resources to save your home. If these scammers are really good, they will convince you that they really care about you and your home. In reality, all they really care about is getting the rest of your money no matter how little the amount. The only things they are after is money and equity, if there is any. Don’t get taken by these scammers. Legitimate nonprofit housing counseling agencies are out there. One thing to remember is, legitimate foreclosure consultants don’t chase you, and you must go to them. Always research whatever company or person you are dealing with.
The best rule of thumb is, if it sounds too good to be true, it probably is. Be wary of quick and easy claims, or of a company who provides little or no information on the foreclosure process. Absolutely DO NOT signs an agreement unless you comprehend every word and phrase. Plus, DO NOT signs an agreement with any blank spaces, if needed put N/A and a line through the space. Another word of advice, don’t transfer property to rescuer and never take a loan you can’t afford or must be paid back quickly with high interest rate as a condition of staying in your home.
Scammers and con artists are everywhere. Unfortunately, the easier targets are often people that are already down and out. Because you are already under stress due to the possibility of losing your home, you are an easier target for these monsters. Seek out professional help carefully. Research everything you possibly can about the company. Try not to be vulnerable to the “I care about you and your home” story. A good basic foreclosure advice book is, “The Foreclosure Survival Guide” by Attorney Stephen Elias. This will get you started in the right direction. It is unfortunate that these monsters take advantage of so many people. Be aware of these scammers and don’t be victim.
Being sure about foreclosure scams is absolutely your responsibility! Be vigilant to avoid any hard deals and also never rely on false promises. Finally, never believe any deals that have been given with word of mouth. Get everything in written, so that you can be sure of commitments and deals. The first considerable thing is, never ever sign in with an agreement, unless you are completely sure about every phrase and lines. Also, never sign in with a blank document for any reason, though the person is well-known to you.
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