How To Protect Yourself From Real Estate Fraud and Foreclosure Rescue Scams. With the number of growing foreclosures has come another breed of criminal. They claim to be foreclosure rescue specialists and they could cost you thousands of dollars and quite possibly your home.
The best way to protect yourself from real estate fraud and foreclosure rescue scams is to hire a realtor and a real estate attorney! Why would you want to take a chance on such a big event in your life. A realtor will know the indicators of a “bad deal” and be able to advise you on how to avoid making a costly mistake. Or at least know who to refer you to in order to get some legal advice.
The government has laws in place that require professionals to get a license within the practice of their profession. So make sure you hire someone that is credible, trustworthy, experienced and loyal. It is very important that you do not sign anything without having a real estate attorney look at it first.
A foreclosure rescue scam artist will make lots of promises they can’t keep like guaranteeing to save your home or lower your mortgage. They will ask for a fee and claim that they are in direct contact with your mortgage service company. Warning – they aren’t!
So here are a few things to look for in order to avoid a potential scam.
• Be wary of anyone that requires you to pay a fee in exchange for their counseling services or the modification of a delinquent loan
• If someone keeps trying to pressure you into signing the papers immediately
• Beware of people that say they can “save” your home and ask you to sign or transfer the deed to your house over to them
• Do not sign over the deed to your home to anyone unless you have been working directly with the mortgage company and they will be forgiving your debt
• Do not ever make a mortgage payment to anyone other than your mortgage company without your mortgage companies approval
If you find that you have been the victim of a real estate scam or a foreclosure rescue scam then you should file a complaint with the Federal Trade Commission (FTC). You can file a complaint online or you can call them at 1-877-FTC-HELP (1-877-382-4357). They offer assistance in both English and Spanish.
About the Author: Millie Gil has been a successful Licensed Real Estate agent for over 25 years in Florida. Millie is Vice President of Bold Real Estate Group, a boutique agency committed to concierge personalized service for discerning buyers, sellers and renters of residential and commercial properties. For more information please forward your request to email@example.com
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