Buffalo, Mn Edina Realty real estate agents are trained to recognize 'too good to be true' offers that unscrupuous businesses are using to lure home owners in trouble into sending them money with the promise of helping them stay in their home. In Minnesota, anyone negotiating a loan for another must be a licensed real estate agent or mortgage loan officer.
These loan modification offers unfortunately, are finding more and more people who are lured by the false promises of saving their homes from foreclosure and after weeks and months of waiting, have had zero results.
Recognize the signs of potential foreclosure prevention fraud schemes:
If they offer their service for an up front fee
If they promise 100% success rate
If they advise you to stop making your mortgage payment
If they use a Washington D.C. post office box or official looking seal on the envelope
If they claim to have attorneys on staff who negotiate on your behalf
If they urge you to sign your home over via a quit claim deed and rent it back
If they claim that they are working on behalf of the federal government
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