We'll save your home, just $5,000! I am seeing so many clients lately that have fallen for deplorable foreclosure rescue scams. These companies make claims that they can save your home from foreclosure if you simply hand over a check upfront.
Many of these so called "rescue companies" or "modification mills" are absolutely worthless. They take your money and then you're lucky if they even make a phone call on your behalf. You'll be out money that your family could use to get current on the mortgage, relocate if necessary or purchase basic necessities. As if that wasn't bad enough you'll also be out precious time to negoitate with your lender to prevent the foreclosure.
Warning signs that you are being scammed include...
1) You are asked for money upfront before any services have been provided.
2) You are told not to contact your lender or seek additional counseling.
3) You are told to surrender the title as part of their program.
4) You are told filing for bankruptcy will cure the foreclosure.
5) You are pressured into signing something you haven't read or with blanks.
If you are facing the possibility of foreclosure I urge you to contact a HUD (Housing and Urban Development) certified housing counseling agency. You can find one in your area by clicking HERE. If you'd like more information on the government Making Home Affordable Plan click HERE. There you can use a self assessment tool to preliminarily determine if you are eligible for the program. You DO NOT have to be late on your mortgage to qualify.
Additional tools to help you
Freddie Mac Lookup tool
Fannie Mae Lookup tool
National Foundation for Credit Counseling
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