Expert Advice When You Need It Most
Posted about 3 years ago. 1 helpful vote, 0 comments
1
Large Upfront FeesThese scams want their money upfront so they can quickly move on to the next victim. Avoid any offer that seeks payment of fees before the full service is rendered. Reputable professionals or businesses may require that you pay a retainer fee or a portion down but the key is to ensure they are reputable through an independent source or a government agency before paying any money. Most of these scams charge the same or even more than a licensed attorney would charge to negotiate a modification with your lender. If you are going to invest money in saving your home, do so with a licensed professional. 2
"Foreclosure Rescue" Operation Wants to Limit Your Investigation or Discourages Self-HelpIf you are instructed not to talk to the lender, mortgage servicer, attorneys, accountants, etc about your situation beware. An attorney may instruct you to avoid such contact but attorneys are licensed by state boards with extensive ethics rules. Scammers are not, and only seek to isolate you from outside influence until they have your payment. Verify the legitimacy of agency, professional, or businesses through an independent source or a government agency before paying any money. 3
Wants Payment Sent Directly to the Foreclosure Prevention BusinessThere is little, if any, legitimate reason for the payments to be re-directed to a foreclosure prevention operation. Further, the risk far outweighs any benefit. Avoid any business that seeks your mortgage payment to be sent directly to them. Most likely, they will convert your payment to a payment made for their services, while your mortgage goes unpaid. 4
Wants You to Sign Over Property, Title, Deeds for Any PurposeOnce you transfer title or transfer a deed, you have passed your rights to that property. Do not trust that you will get your property back at a later date. Additional ResourcesBy being alert, homeowners can prevent becoming a victim of the "foreclosure rescue" scams. For additional information on the many variations of these foreclosure rescue scams visit the web link below. Related Questions1 Attorney answers: 
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Asked by a user in Philadelphia, PA - over 1 year ago. This Week's Top Foreclosure ContributorsView all lawyers on the Foreclosure LeaderboardFind Ethics LawyersRelated Searches |
