Tuesday, April 17, 2012
Scams on people in trouble with their mortgage are way up. Here is an article that explains some of the things going on. http://www.huffingtonpost.com/2012/04/16/mortgage-foreclosure-scams_n_1429805.html If you are in trouble and going to be foreclosed on DO NOT leave your home. My best advice is stay in it until you are forced to leave. Most people are afraid a sheriff might come and arrest them but that is not the case. In most instances it is a Realtor who is taking over the listing on the house once it's foreclosed, which can take months or years. You will then get between 3 and 30 days to get out. On the five we've dealt with, whether a sheriff or a Realtor, all were very kind and sympathetic. They are just doing their job and not especially liking it. So stay in the house. If you leave, you also are leaving it vacant for potential squatters or vandals. The other thing I can tell you with firsthand experience is do not pay a "mortgage specialist" or attorney to help you--we spent thousands of dollars on a lot of false promises and neither party was able to accomplish what we were able to accomplish on our own. There are experienced people out there that will assist with a modification for free or assist with a short sale for free (on short sales the bank pays the negotiator). If you are local here in Utah I am happy to give you the name of the person that SUCCESSFULLY negotiated our short sale and we didn't spend a dime.