Foreclosure Connections Blog Articles And Foreclosure Information

A lot of foreclosure rescue companies seem to be real. But, hey are actually fraudsters pretending to be foreclosure counselors who take away titles from homeowners facing foreclosure.

Often, such people request you to sign this and that and make promises that in reality are too good to be true. If you are worried about avoiding these scams, you will be delighted to know that do not need assistance from a third party to recognize them.

Once a default notice has been filed, scammers will offer any of these helps, which should already alarm you:

• The company will pay the lender for your back payments.

No charities bail out distressed homeowners from foreclosure by giving money to the lender.

• You can apply for another loan to pay off your current lender.

No other companies can lend you money when you are already in default unless your existing lender lends you money for the reinstatement of your loan.

• You can stay in the house as a tenant and later reclaim title.

The possession of your home is only until the completion of foreclosure, which takes about three and a half months to a year, depending where you live.

• By paying an upfront fee, they will freeze foreclosure for you.

Stopping foreclosure has no guarantee. There are options for you to work out with your lender, which you can do yourself.

• By paying some amount to the company, they will make some arrangements with your lender to allow you to stay in the property.

There is no magical remedy for foreclosure. Lenders offer options you can choose from, whichever best fits your situation.

• Signing a contract or deed transferring title is temporary.

All contracts are final. Once you have signed one, you have already transferred title.

You should report such scams to any of the following: real state licensing department, office of the Attorney General, office of the local District Attorney for Consumer Fraud, or FBI.

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