Chances are that when you’re facing foreclosure you will come across – or be contacted by – a variety of scam artists. Protect yourself, and your home, by keeping an eye out for these scam tactics!
1. Scam Artists Will Demand Payment for Counseling Services
Be aware, there is NEVER a fee to get assistance or information from your mortgage company or a HUD-approved housing counselor like St. Johns Housing Partnership. While some fee-based counselors are legitimate, you should know that free counseling is available, and maybe most suitable for you.
2. Scam Artists Will Intimidate You to Sign Over the Deed to Your House So They Can “Save” Your Home
Do NOT sign over the deed to your property to any organization or individual, unless you are working directly with your mortgage company to forgive your debt.
3. Scam Artists Will Ask You to Sign Paperwork in Exchange for a Promise that Someone Will Pay Off Your Mortgage
Make sure you read and understand ALL paperwork, before signing, to ensure that you are not unknowingly giving someone else ownership of your home.
4. Scam Artists Ask You to Submit Your Mortgage Payments to Someone Other than Your Mortgage Company – Without Your Mortgage Company’s Approval
Don’t be fooled! If you submit your mortgage payment to a ‘stop foreclosure’ scammer, your payments will never reach the mortgage company.
5. Scam Artists Will Tell You That You Don’t Need a Real Estate Professional or Title Company When Selling Your Home
You should ALWAYS have a real estate professional, attorney or a title company to help you with any transaction involving your home – especially when trying to avoid foreclosure.
IMPORTANT: Make sure that you are dealing with a HUD-approved organization.
Your mortgage company or a HUD-approved housing counselor is always the safest source of information and help.
If in doubt, visit the U.S. Department of Housing and Urban Development website to make sure that the organization you’re dealing with is a HUD Approved Housing Counseling Agency.
If you need additional foreclosure help, please give our Orange Street office a call at (904) 819-1266.