Beware of Foreclosure Rescue Scams

Many homeowners have paid hard earned and non disposable income to modify a mortgage through companies promising the moon and delivering cheese. Some call for advice from local professionals and after research determine the assistance is bogus. There are free resources including the mortgage holder. Before paying a company to process paperwork go to http://makinghomeaffordable.gov/eligibility.html. The link takes a user directly to the eligibility page.

During the information seeking period there are resources available in your local area.Call a local professional such as a mortgage broker, realtor or trusted attorney for advice. Call your mortgage company or visit the company website to begin a modification or permissible short sale. The options are many! An attorney may charge for advice but many professionals will sit down and review avenues of recourse without charge.

Use the following excerpt form MHA website during your process!
• Assistance from a HUD-approved housing counselor is FREE. Beware of anyone who asks you to pay a fee in exchange for counseling or a loan modification.
• Beware of people who pressure you to sign papers immediately.
• Do not sign your deed over to anyone unless you are working directly with
your mortgage lender to forgive your debt.
• Never make a mortgage payment to anyone other than your mortgage
lender without their approval.

Home Affordable Modification
Learn how you may be able to make your mortgage payment more affordable.
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Post Coming Soon: New changes to HAMP making modifications and short sales a viable alternative to foreclosure.