Many real estate professionals, including investors and agents, in the DFW area have creative solutions to help homeowners avoid foreclosure. Although some are legitimate and very successful, you should always be caution to avoid a scam.
Read this article from the Dallas Observer about the massive mortgage scam that affected more than 70 homeowners in the DFW area.
If you are facing foreclosure, here are some tips to avoid a scam:
- Ask questions about the options presented to you.
-How will my foreclosure be stopped?
-Who will pay for it?
-What will happen to my house?
-What are my obligations?
-What if it does not work?
- Do your own research about the person or company that is communicating with you.
-How much experience do you have?
-How successful have you been? When have you not been successful?
-How many people have you helped in the last 6 months?
-Why do you want to help me?
-How do you benefit from this?
- Research the options presented to you and look up any terms that are not clear. Take time to fully understand and have questions prepared so that all your concerns are addressed.
- Make copies and keep a record of everything you sign! Have a point of contact and stay in communications.
- Call your mortgage lender and foreclosure attorney to confirm that the foreclosure is postponed. You can also ask why it was postponed and if there is another sale date scheduled.
Remember that you do not have to move forward with anyone you are not comfortable with.
If you would like a helping hand to understand your specific situation and options available, feel free to call us at 972-342-0011. Even if a short sale is not right for you, one of our Foreclosure Experts can give you advice and guidance about the best solution for you.