DESPERATE HOMEOWNERS USE CAUTION
Sadly, mortgage fraud is on the rise…Mortgage Rescue Fraud that is. Many consumers unable to pay their mortgage are looking for help. And as will happen, there are some unscrupulous people looking to cash in on the troubles of others. If you are a homeowner struggling to pay your mortgage, or if you are already in the foreclosure process – you may be feeling desperate. That’s what these people bank on. Sometimes it’s hard to know whom to trust. Be leery of someone who contacts you offering his or her help…especially of what they offer sounds spectacular.
Generally, if it sounds too good to be true…it is.
A good place to start is with the holder of your mortgage. Although the statistics on mortgage loan modification are not very good, making your lender aware of your situation is always the best first step.
Next you might consider contacting a housing counselor, approved by the Department of Housing and Urban Development. This information can be found at hud.gov.
If you find that you are “upside down” on your home, owing more on it than it’s currently worth, you may want to consider a short sale. For that you will want a Realtor experienced in short-sales. My team has closed 100% of our short sale listings to date. Call or email me for more information.
Jeanne Jordan, Realtor CNC, SFR