Category Archives: Foreclosure Help

A Discussion of Home Foreclosure Help

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If you have ever been to a courthouse auction, you will be surprised at the many times a homeowner will save their house at the last minute. Presenting a certified check to the auctioneer can be done, but why wait until the last minute. There are other options available. Below are some thoughts.

1. You can list the property for sale with an agent. You will need to tell your mortgage company that your trying to sell it, often they will work with you. Sometimes delaying monthly payments. But be advised, mortgage companies and bank are tricky. They will try to squeeze you for more interest payments only to close in on you at the last minute. Get someone experienced, to coach you through this. Never pay anyone money upfront.

2. Use a short sale strategy – Again you will need someone experienced with quit claim deeds, short sales, and deed in lieu, Please never pay anyone upfront.

3. Sell it yourself very quickly to avoid the foreclosure. This the best and least painful way to get those payments off your back. There are plenty of buyers so long as your not unrealistic about the price.

If you would like free information on how to avoid bad credit and avoid the foreclosure call me at (757) 285-1234

Bob Good

How to Avoid a Loan Modification Scam

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Home loan scams, schemes, and foreclosure rescue aren’t always easy to spot. It does help if you know the warning signs. Here are seven things you should know to avoid dealing with a loan modification scammer:

1. A company/person asks for a fee in advance to work with your lender to modify, refinance or reinstate your mortgage. They may pocket your money and do little or nothing to help you save your home from foreclosure.

2. A company/person guarantees they can stop a foreclosure or get your loan modified. Nobody can make this guarantee to stop foreclosure or modify your loan. Legitimate, trustworthy counseling agencies will only promise they will try their very best to help you.

3. A company/person advises you to stop paying your mortgage company and pay them instead. Despite what a scammer will tell you, you should never send a mortgage payment to anyone other than your mortgage lender. The minute you have trouble making your monthly payment, contact your mortgage lender.

4. A company pressures you to sign over the deed to your home or sign any paperwork that you haven’t had a chance to read, and you don’t fully understand. A legitimate housing counselor would never pressure you to sign a document before you had a chance to read and understand it.

5. A company claims to offer “government-approved” or “official government” loan modifications. They may be scam artists posing as legitimate organizations approved by, or affiliated with, the government. Contact your mortgage lender first. Your lender can tell you whether you qualify for any government programs to prevent foreclosure. And, remember, you do not have to pay to benefit from government-backed loan modification programs.

6. A company/person you don’t know asks you to release personal financial information online. You should only give this type of information to companies that you know and trust, like your mortgage lender or a known reputable company.

7. Companies will buy your home quickly and fairly if you feel you have exhausted all avenues for modifications offered by your lender. Don’t let your home go into foreclosure just yet. You can preserve and rebuild your credit. Check with VA.gov to see how long a company has been doing business.