Don’t believe the recovery hype. Amidst growth in some sectors, the economy is still shot in many regards. Foreclosures are still at a high and, as always, unscrupulous bastards try to capitalize on the situation.
Scam artists are getting quite creative in ways to get money out of people trying to keep their homes from foreclosure.
CNN Money points out three signs from people to avoid when it comes to foreclosure prevention offerings:
Anyone who asks for fees in advance. Credible processors will only ask you to submit documents first before they charge you anything. If they ask for a fee in advance (which can be a few thousand dollars), then chances are they will be disappearing shortly after.
Anyone who guarantees foreclosure. Unless they can pay for your mortgage, no one can do that. Consider at what point do they claim they can guarantee that. If they say they can even before they’ve heard or assessed your situation, then beware.
Anyone who says stop paying mortgage and pay them. Anyone who says you should stop doing the only thing that’s keeping you in your home in favor of getting your money is a tell-tale sign.
