Beware of Foreclosure Scams

1.  Check for an online presence.  Beware of private investors who have absolutely no public record of their line of work

2.  Do not quit claim your property to anybody without first consulting your local realtor.  95% of the time this will be a scam. 

3.  Do not sign ANYTHING without asking for a copy of the paperwork.  Spend 1-2 days reviewing the paperwork with your local realtor. 

4.  Always explore different options (besides selling) when facing foreclosure.  For help, visit the Homeowner Preservation Foundation at 995hope.org or call them 1-888-995-HOPE.  You can also call your local realtor for a list of HUD Approved agencies in your state. 

5.  Do NOT sign an “authority to represent mortgagor” agreement without going through steps 1-4 and confirming the legitimacy of their service. 

If you have any questions regarding foreclosure scams, feel free to leave a comment.  Good luck & have a happy holiday!

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Written by SSB

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