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Mortgage Payments: Difficulty Paying

How To Avoid Foreclosure Scams

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Consumer Reports suggests you follow the following guidelines to avoid foreclosure scams:

  • Get everything in writing, including the firm's services and refund policies.
  • Don't sign any contract unless you've read it thoroughly and understand it.
  • Don't pay the entire fee up front.
  • Don't give anyone else the right to your deed, even for a day.
  • Pay your mortgage only to your lender during the modification period.

We add:  Check the organization that offers to help with the Better Business Bureau.  See www.bbb.org offsite link

Scams to be aware of:

  • Foreclosure rescue companies that ask you to sign over the deed to your residence while they work on  your problems. 
  • Companies that  ask that payments be made to them instead of the lender while they work out a loan modification. .

 

 


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