It's unfortunate, but there are people out there looking to take advantage of just about everyone.
Right now we all know that there are thousands, if not more, home owners who are concerned about foreclosure. And sure enough, foreclosure related scams have popped up.
The following items should serve as a warning that a mortgage relief service is not legitimate (this is just one section of the foreclosure reports that we offer for free on our Avoid Foreclosure Website):
1. Upfront Fees
Always avoid any mortgage relief company that charges upfront fees. Not only is it illegal, it's certainly a sign that the relief is fraudulent. POINT BLANK: Do not pay for the promise of results ... pay for the results themselves.
2. Guarantees
Be suspicious of anyone who guarantees mortgage relief. Any legitimate agent or company should know that the mortgage relief process is complicated and dependant on many factors, and that to guarantee a successful result is unrealistic. Fraudulent parties will make this promise to falsely raise your hopes, making them appear as though they are providing a rare opportunity. As common
sense suggests, if it sounds too good to be true, it usually is.
3. Government Affiliation
Certain fraudulent companies present themselves as government agencies or other authoritative entities by creating websites with official-looking seals, official-sounding names, or video clips of politicians. If someone claims to represent the government, a lending institution or a bank, be sure to verify his or her affiliation. The best way to do this is to check with your lender, Better Business Bureau, or the government's official Making Home Affordable website (http://
makinghomeaffordable.gov).
4. Deed Transfer
Beware of people who pressure you to sign papers immediately, or who try to convince you that they can "save" your home if you sign or transfer over the deed to your house. Some call this "taking over your property subject-to existing financing." But no matter what you are told about why you should sign over the deed, understand that once this is done, you no longer have legal rights to the property and can be removed from it. Always seek legal counsel before proceeding with an option like this.
For a list of common scams visit our Foreclosure Reports.
There you will find all the information you need if you are concerned about or facing foreclosure.
FTC Mortgage Assistance Relief Assistance (MARS) Disclosure: Evelyn Bruder Dream Team and Steinborn & Associates Real Estate are not associated with the government. Our Avoiding Foreclosure Services are not approved by the government or your lender. Even if you accept this offer of assistance, your lender may not agree to any change of your loan or any other solutions we propose. You may stop doing business with us at any time. You may reject any offer of mortgage assistance we obtain from your lender. We do not charge for our services unless the final solution you agree to is a "Short Sale." If you accept that solution, you agree that we will list your home, and a real estate commission will be negotiated in the Listing Agreement. Beware: If you stop paying your Mortgage, you could lose your home and damage your credit rating.
We are not engaged in the practice of law or accounting, and we do not gives legal or accounting advice. It is highly recommended that you seek appropriate professional advice.
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