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18 Sep 09

How to Spot Foreclosure-Prevention Scammers

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

www.realtor.org/...News2009091705 - Preview

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.
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