Home Foreclosure Help - Foreclosure Scams

Courses, Seminars and Bootcamps

There are many of them out there, some will have worthwhile information, some are predominately sales pitches to get you to spend more money. If you are going to attend a seminar, leave the credit cards at home. What sounds great during the presentation might not seem so great a week later. Valuable information isn't going to disappear, you will certainly be able to buy it later on.

Foreclosure Scams

People in foreclosure are vulnerable. Think twice before embarking on a plan and think very long and hard before signing anything. Reading our foreclosure help section is a good start.

Here's some typical scams. Be careful.

Save your credit. Pay a fee and sign the house over to us. The foreclosure will be recorded against us, not you.: The foreclosure will be reported against the borrowers on the note, not anyone else.
We'll give you some money, just sign the house over, we'll cure the default.: There really isn't a problem with it, IF you know how much equity you are selling and IF the purchaser really will cure the default and IF the purchaser will really make the payments and IF you want to still be responsible for the loan. Too many IFs to be able to say this is either a good or bad option, just be careful with it.
We'll buy the property, lease it to you, you have the option to buy it back.: It might have happened, but the reality is, to buy it back you'll need a new loan that's larger than the loan you have with an interest rate greater than what you have. The payments will be higher and it's going to be very difficult to qualify. Explore a small hard money loan if you have the equity or consider an open market sale, you'll probably end up with more money in your pocket.
I'm an agent specializing in pre-foreclosures and I'll get your property sold quickly for top dollar.: Some agents have a relationship with an investor and work from published Default notices. You'll get an offer, but is it the best? We've seen listed properties in foreclosure recieve higher offers with no contingencies and the capability for quick closing that aren't always accepted by sellers. Why? Most likely, because they are never presented to the seller.
Stop Foreclosure with Bankruptcy: Bankruptcy does not stop foreclosure. It puts a hold on foreclosure which can allow you time to reorganize your finances.

If you'd like to sell your home, click here to get a free market analysis for your home from a licensed real estate professional: Home Seller Assistant.
If you have equity and want to refinance to stop foreclosure, click here: Home Loan Assistants