How to avoid forclosure rescue scams
So times have been tough and you’ve gotten behind on your house. Now the bank has been looking for it’s money and has started to foreclose on you? Suddenly there will be people coming out of the woodwork to “help” you. They want to “help” themselves to your equity.
Protect yourself if you find yourself in this situation. Time is ticking and the law day is the law day.
1. Try contact your mortgage servicer and try working out an arrangement. Most of the time they don’t want to foreclose. It is expensive and risky, but they do want to get paid. If you have a government guarenteed loan, there are funds to help you get current. Ask about them.
2. Don’t sign anything until you have had a chance to review it, spend the night thinking about it.
3. Know that if you sign any kind of a deed, a quit claim or warranty deed you are selling your house.
4. Beware of anyone who offers you easy credit loans, bargain loans, or contacts you first. They know you are desperate and will take their deal.
5. Work with a real estate agent to try and sell your house.
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