I am looking for help with foreclosure. Is there any tips on where to turn for help that works and not scam?
at
Related posts:
- Who do I turn to for help regarding father’s impending foreclosure?
- Where can I turn to for help if I am facing foreclosure on my home?
- How does Deed-in-lieu of foreclosure works for second homes?
- PART 2 OF A&E – FLIP MY FORECLOSURE SCAM
- Any ideas how I can get my $1600 refunded from scam artist – Truman Foreclosure Assistance?
Tagged with: Foreclosure • help • looking • SCAM
Filed under: Foreclosure
Like this post? Subscribe to my RSS feed and get loads more!
All those signs you see are not scams. These are investors with money trying to buy houses for cheap. You can call a few on the phone and whoever seems sympathetic enough for you will probably be worth inviting over. Ask them if they will go to the trouble of explaining all your options to you before they come over and if they say yes you have a person that will help you out. Also you might ask how long they have been doing it you don’t want a newbie practicing on you, make sure they got a few years under their belt.
Usually in a foreclosure there is little or no equity or you would just sell the place. So you should expect nothing out of the deal except that you don’t get a foreclosure on your record, they are just going to need you to sign a paper that lets them talk to the bank about your loan, they will probably try and arrange a short sale which means the bank sells it to them for a bit less than you owe. You will need to provide them with info on your hardship, that is, why you can’t afford the payments and how likely you are to default and not pay otherwise the bank wont even consider a short sale.
The bank doesn’t have to do the short sale but since it costs them money to foreclose they will give something of a discount. If they got a bunch coming which they all do then they are more likely to give the investor a deal.
Sorry that you are in the situation and remember that it is times like this in our lives that we can look back on one day and say it wasn’t as bad as I thought it was going to be and I am stronger for it.
Good luck
The only sure scam proof direction to take would be working it out with your mortgage lender. Most other folks would convince you to do bankrupcy or quick sells.
Depends on if you are trying to keep the house or just let it go.
Even if you are several months behind and foreclosure has already been implemented, the mortgage company is willing to work out something even if it is a loan modification.