| California Loan Modification Scammers! Be Aware! |
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househelper2009
New Member
Cash: $ 1.00
Posts: 4
Joined: 26 Jun 2009
Location: Chicago
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| California Loan Modification Scammers! Be Aware! |
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If you plan on avoiding common mortgage scams, it would be in your best interest to read this info.
There are well over 50,000 properties going to foreclosure ever single month across the country, and the number is not expected to let up anytime soon! People are losing their incomes and liveli-hoods left and right. In this type of atmosphere, people are looking for a way out of the mortgage meltdown, and sometimes out of desperation, home owners turn to foreclosure consultants, or mortgage rescuers. And while not all of these companies are frauds, most are only looking to capitalize from your situation.
Below are ways that you can avoid foreclosure scams in your area:
- Do NOT meet so-called investors by yourself! This is not because of any physical atlercations, but because of vulnerability. Most investor-scammers know what you are going through financially, and they will use their charisma and entrapment skills to get you to sign documents that are not in your best interest. It's best to bring a family member with you, or simply request that they send you some information about themselves and their company. You don't wan't to put yourself in a position where you are trapped into doing anything.
- Don't ever pay one red cent to an investor or foreclosure consultant who promises to help you avoid foreclosure. There have been instances where the home owner in foreclosure was coaxed into paying a "fee" in order to have the consultant negotiate with the lender. But in the end, nothing happens and the house owner loses not only their money, but their home as well. In other words, NEVER PAY SOMEONE TO TALK TO YOUR BANK! PERIOD. You can negotiate with your own lender, all that you will need is the right documents and the right approach. You can also call 866-236-8896 for professional help with your mortgage modification.
- Don's Sign Anything!! Until you or your attorney has looked over the information, you have NO BUSINESS, signing anything! Remember one thing about contracts or any other document, THE BIG PRITNT GIVETH AND THE SMALL PRINT TAKETH AWAY! This is 100% accurate, never, ever be pressured into signing anything, especially when it comes to your home. The investor should give you the same consideration that they would want to recieve if they were in your situation. Once you sign on the dotted line, that's it! YOU ARE BOUND TO THE CONTRACT!
- Don't ever sign over your deed! This is the absolute worst thing that a home owner can do! Is there any way that you can be sure that the investor will pay your mortgage? NO THERE IS NOT! So, do not sign over anything to anyone! You will lose ownership of the property, and you won't be able to fight back.
You see, if you want to stop foreclosure on your home and avoid scams, you need to take a close look at your situation and decide what is BEST for your family and yourself. But do not act out of desperation. It will only make things worse, and you will end up being a victim of fraud. You can do a loan modification, a short sale, a forbearance agreement, a deed in lieu, or even bankruptcy if needed, but don't ever rush into anything, especially if you are in foreclosure. BE PROACTIVE!
www.webuychicagohousesforcash.com/loan_audit
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Fri Oct 16, 2009 9:23 pm |
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No-Brainer
Senior Member
Cash: $ 66.65
Posts: 907
Joined: 29 Dec 2005
Location: Oregon USA
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How can something be considered a scam when it results from your own negligence in most cases. I just got a deed in lieu for a business property I sold 5 years ago, but looking back it was a clear trail of one bad decision after another from the buyer. Not that I'm complaining, I got 5 years worth of payments and another $30K down when I sold it again for even more. Does that make me a scammer?
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Sat Oct 17, 2009 6:41 pm |
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