So you think you found someone to rescue you from foreclosure?
A mortgage rescue company comes forward and claims to be able to help you save your home and your credit. You probably just signed your house away.
There is an army of scammers and con artists using the Internet, television, radio and the mail who are waiting to take your money and your home. They make claims to be able to save your home, or promise a new loan, or a loan modification.
These scammers guarantee to stop foreclosure or save your home, say they have a high success rate, you won’t have to move, and may use names and logos that make them appear to be part of the government or a recognized charity. Paying fees up front for foreclosure rescue services is illegal in most states and a clear sign of a ripoff.
If a company or individual requests any of the following, RUN AWAY FAST!
- Pay fees up front for a modification,
- Tells you to stop making mortgage payments,
- Offers to handle your payments or financial arrangements,
- Wants you to pay for a second opinion on your denied modification
- Sign your house over or put someone else’s name on the deed,
- Offer to buy your house and rent it back to you, or a sale leaseback.
If you have any questions about foreclosure, modifications, or saving your home, see your own attorney first and let him assist you or review the paperwork. When you are desperate and vulnerable you are liable to believe anyone and anything and that is when you need to stop and let a lawyer step in and look things over.
Disclaimer: This blog is intended as general information purposes only, and is not a substitute for legal advice. Anyone with a legal problem should consult a lawyer immediately.