Stop foreclosure frauds are everywhere, especially in Utah as we have risen to the top 10 in foreclosures in the nation. You know that you need help in your situation, but you don’t want to be scammed. There are a few ways that scammers can scam you when you need to stop foreclosure, and they always leave tell tell signs.
- They ask for payment for their services up front.
If you are short selling the property there should be no payment that you have to make. The business you are working with will receive their payment from the bank or the future home buyer.
If you are doing a loan modification then once the person is paid they have no motivation to seriously work a modification on your home.
- The person that is offering assistance can not prove that they are a business.
Getting a business license is a simple task, but scammers are afraid to do this because then they will be held to higher standards in their business practices, especially in the stop foreclosure industry. You want the business that you are working for to live up to that higher standard.
- They can’t direct you to their web site.
The web is a major place for businesses to tell the world who they are. If you are working with a person who does not want the world to know who they are then I would not use them to stop foreclosure.
- Part of their stop foreclosure process they own the house that you are living in.
This should set off a lot of red flags. This person has come in and taken over your financial situation by helping you stop foreclosure, and now they are taking over you living situation. If anyone tells you that you could lease the house from them and they will sell it back to you in a year or two, or if they tell you that they will move you into one of their other houses to stop your foreclosure…run!
If you sell your house to stop foreclosure then you should not live in it, and you should not live in a house of someone else’s while that person is trying to help you stop home foreclosure!
- They ask you for personal checks or that you make your mortgage payment to them.
Always make your mortgage payment to either the mortgage company or an escrow company, never make your mortgage payment to an individual, and never give away your checks. They may tell you that it is for them to pay off some of your expenses, don’t listen. You will have to give away some important information, but your checks are not that important information that would be needed to stop foreclosure.
If they don’t have a web site, that usually means proceed with caution, but if they have any of the other red flags pop up while they are helping you stop foreclosure, then they are probably a scammer and don’t work with them.
To download a free report on the 5 fastest ways to stop foreclosure in Utah visit:
http://www.StopForeclosureNorthernUtah.com
