avoiding foreclosure scams

Danger Signs

If you’re in need of foreclosure relief, who should you avoid?

  1. Anyone who encourages you to contact your lender
  2. Anyone who pressures you to sign papers you haven’t read completely
  3. Anyone who says they aren’t sure they can save your home

“B” is correct. Companies that claim they definitely can stop your foreclosure, get you a loan modification, or that all or most of their clients obtain a loan modification or other relief aren’t trustworthy. Also avoid anyone who says not to contact your lender, lawyer, or housing counselor; asks for an upfront fee (unless it’s an attorney you’ve checked out); only accepts wire transfers or cashier’s checks; asks you to lease your home to them; tells you to make your mortgage payments directly to them; asks you to sign over your deed or title; or who offers to buy your home for cash at a much lower price than the current market value.