Be Careful Of Foreclosure Rescue And Home Preservation Specialists Offering False Hope To Innocent Homeowners
You have done everything you can. You have sent in all of your information and your loan modification was denied. Now, foreclosure is upon you. You don't know how you are going to tell your children that you have to move or even where you will go. Then, suddenly, your phone starts ringing and the callers are guaranteeing they can save your home. Of course, you would do anything to save your home and avoid that painful conversation with your kids. But hold on a second! Can you trust that voice on the other end of the line? Probably not.
Foreclosure scams are wide spread and come in far too many forms to list each one in this blog. Many companies couch their scams in terms of a "rescue" for the homeowner. Or, you may hear the caller identify themselves as a "foreclosure specialist or a "home preservation specialist." No matter what the name or how the scam works, the common theme among these crooks is a promise or guarantee that your home will be safe from foreclosure. The Federal Trade Commission (FTC) and the Department of Banking and Finance (DBF) strongly advise homeowner's to avoid companies that guarantee they can stop your foreclosure. These agencies also warn that you should avoid any company that tells you not to contact your attorney or mortgage company.
The FTC reports that scam artists will also encourage you to sign over your home to them and lease it back until you are in a position to actually buy it back from them. The DBF has stated that most of the buy-back provisions are so harsh and so impossible in many cases the homeowner cannot buy it back and the "rescuer" will end up with all of the equity in the property.
You do not have to become a victim of a foreclosure scam. You may not like the idea of filing a bankruptcy to save your home. However, if you qualify, it will stop the foreclosure and keep you in your home. But beware - not all attorneys know how to file a bankruptcy case. And, not all homeowners qualify for a bankruptcy.
At the Law Office of Seymour & Associates, P.C., we only practice bankruptcy law. We know how to save your home and your sanity. If you have questions about your options for saving your home, contact me or call (706) 872-7117 and schedule an appointment to sit down and speak with me about your financial difficulties. We can help you!