Friday, September 18, 2009

Signs of Foreclosure Prevention Scam

  • If foreclosure prevention companies ask for money upfront, guarantee success, and ask you to send money too them, they are a foreclosure prevention scam.

    tags: foreclosures, prevention

      • Here are some red flags that should make a home owner run in the opposite direction:
        • If the company guarantees success. Nobody can guarantee a lender won’t foreclose or will modify a loan.
        • If the company wants money upfront. "We can't say all advance fees are illegal," Kirtz says, “But in most cases they're probably bogus."
        • If the company wants the home owner to send mortgage checks directly to the modification firm. The only certainty there is that the company will cash the checks.

Posted from Diigo. The rest of my favorite links are here.

No comments: