Avoiding Foreclosure Scams
Are you a homeowner who is facing foreclosure? If you are, you may literally be desperate. You may try anything to save your home. Of course, you are urged to do so, but it is important to not let desperation get in the way. Homeowners who do, often find themselves the victims of a foreclosure scam.
When it comes to foreclosure scams, the best way to protect yourself is to know what to look for. Although foreclosure scams come in a number of different formats, many are easy to spot.
One type of scam that you will be on the lookout for is when an individual or a company approaches you offering to help. When doing so, they will offer to provide you with a loan. The only problem is that a loan is not what you may be getting. The documents you sign may actually turn over ownership to the individual or company in question. However, you often end up agreeing to rent the property at a very high rate. When you cannot afford to make those payments, you will be evicted from a home that you no longer own.
Another foreclosure scam involves having an individual or company coming to your rescue. They will offer to negotiate with your lender for you. During this period, you are asked to pay the individual or company in question, which may be referred to as a rescuer. The only problem is that individual or company isnt in contact with your mortgage lender at all. What they are doing is pocketing your money and you will still end up facing foreclosure.
One mistake that you will not want to make, concerning foreclosure scams is believing that the individual in front of you is different. Desperation and despair can cloud ones judgment. If you are presented with a contract or legal document to sign, do not do so until you can have it reviewed by an attorney. Be sure to choose your own attorney. Do not rely on the advice of an attorney suggested to you, as they may be in on the scam, if they are even a real attorney to begin with.
As a recap, foreclosure scams are out there. Typically, the only way for you to legally avoid foreclosure is to speak with an attorney or to make arrangements with your financial lender.
Smalley Web Solutions has been involved in Texas website design for over three years. In April of 2009, we moved to Austin, Texas where we have been involved in the Austin web design market for over two years. Smalley Web Solutions can be reached at URL: www.webwizardonline.net.
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