"I'm really glad that 1st Foreclosure Prevention was able to help me with my mortgage problems. I was already in the foreclosure process when I called them for a free foreclosure evaluation. They were really nice and explained a lot of things to me that I didn't know, including how to stop foreclosure. I didn't even know that I could do that! They were able to work out a deal with my bank so that I was able to keep my home and pay less on the mortgage. Now I am able to afford my home and even save a little money, thanks to this company. I can't say enough good things about them."
"After my husband died, I couldn't the mortgage payments at all on our home. I didn't know what to do and had tons of medical bills. I was at my wits end and was struggling just to get up in the morning because the foreclosure was making me so depressed. I had no idea what to do and was just going to let the bank take the house since I couldn't afford the payments. A friend told me about 1st Foreclosure Prevention. I contacted them and they gave me a free foreclosure evaluation and told me what I could do to keep my home. They negotiated with my lender for me and helped me stop foreclosure. Best of all, they relieved my mind from worry. They were very nice and really knew how to give me foreclosure help. Thank you."
"When we refinanced our home, we didn't think that we would be facing the foreclosure process. But there we were - after 15 years in our home, going through a foreclosure because we couldn't afford to pay the mortgage. We refinanced to get money out to finish the basement, but then I lost my foot in a snowmobile accident. I was laid up for a while and the bills mounted. Then we found that the mortgage payments were actually going up! After 15 years in the same place, it can be really tough. But my wife called 1st Foreclosure Prevention and they helped us out. They gave us free advice on how we could stop foreclosure and what to do. We were able to save our home from foreclosure with their help."
"It seemed that every home in our block was up for foreclosure and we didn't think we had any way out. We knew that we owed more on the house than it was worth and were very tempted to just let the foreclosure process play out. Then my husband found out about foreclosure help from 1st Foreclosure Prevention. We contacted them and found that we could get out of the house without having to endure the foreclosure process. This company presented us with options that we didn't even know existed. Not only that, but we're glad we didn't go through the foreclosure process because my husband lost his job, got a new one and the employer did a credit check! This company really helped us out."
"We didn't want to go through the foreclosure process. We were so embarrassed that we were facing a foreclosure and knew that all our neighbors would find out. A couple down the street had a foreclosure and they posted a sign on the property. It was so embarrassing. But we knew that it was coming. My husband lost his job and we were really struggling to make ends meet. We didn't want to lose our home, but felt we had no choice. We were really ashamed of what happened to us. Then we talked to 1st Foreclosure Prevention and they made us feel so much better. They didn't make us feel ashamed and actually gave us the foreclosure help we needed. Thanks to them, we didn't have to go through the foreclosure process that would have pained the entire family."
"I couldn't sleep at night because I was so worried about my mortgage and what was going to happen to me and my kids. I had been working two jobs to try to keep up on the mortgage payments since my divorce and there just didn't seem to be an end in sight. Then I lost one of the jobs when the place closed down. A friend of mine told me I was better off to do what I could to stop foreclosure before it started, so I contacted this place that I found online, 1st Foreclosure Prevention, and they gave me so much foreclosure help! I couldn't believe that they could be so nice and caring. They took it all off my shoulders and I was finally able to sleep. They saved my home from foreclosure."
Home / Avoid Foreclosure Scams
Avoid Foreclosure Scams
While there are loss mitigation companies that can help you stop foreclosure, there are, unfortunately, many so-called foreclosure help companies out there that are looking for a way to take advantage of your situation. There are more foreclosures in the United States than ever before and as a result, more foreclosure scams.
But you do not have to fall prey to trickery that is put into play during foreclosure scams. Armed with knowledge and the fact that you have options to stop foreclosure can help you a great deal in your plight. Getting a free foreclosure evaluation can give you some foreclosure help that you need to understand your options.
Some of the most common foreclosure scams involve the following:
Taking a fee up front for loan modification
Many companies will charge a fee for what they call a loan modification. You can get a loan modification, in which the loss mitigation firms work to re-negotiate your mortgage with your lender, but when a company wants a fee to perform your qualification, often they do not have much of a success rate. Most legitimate loss mitigation companies that perform this service take money after they performed the qualification process. Beware of anyone who promises foreclosure help or to stop foreclosure and wants money up front prior to a detailed evaluation.
Take your deed without curing the debt
This is one of the most predatory foreclosure scams around and is still, unfortunately, going on today. The scam involves getting you to sign over the deed to your home to a third party with the promise that they will pay off the mortgage. The third party does not do this at all - in fact they just rent the property to someone else and collect the funds. Then you are stuck with the same mortgage obligation and can often be subjected to a deficiency judgment. Do not sign over the deed to your property without the advice of an attorney. Anyone who tries to get you to do this may be taking you for a very bumpy ride.
Ask you to send your mortgage payment to them/div>
This is one of the oldest foreclosure scams in the book. They will have you sign some papers and tell you that they will mitigate your loan and get the lender to take less if you send them the mortgage payment each month. They do not make your payments and it can be months before you realize that you have been scammed.
Offer credit counseling to stop foreclosure
Credit counseling has the same impact on your credit as a Chapter 13 bankruptcy. Only it is not guaranteed as no one has to listen to a credit counseling company, but they do have to adhere to a court order issued by a bankruptcy judge. They will tell you that they are giving you foreclosure help, but in reality, they are impacting your credit the same as bankruptcy would, without protection of the court. On top of that, they usually charge a monthly fee for their service that they term as a “donation.“ This is a foreclosure scam - stay out of it.
So how do you know the loss mitigation companies that truly can help stop foreclosure legitimately apart from those who just want to make a buck off of your misery? There are certain things to look for when you are seeking to stop foreclosure and have been approached by loss mitigation agencies, or those that say they are. Some of the red flags you should look for to tell you that you might be getting scammed include the following:
- The company tries to convince you to sign over a deed without legal representation;
- The company asks for a high fee up front without doing anything to give you foreclosure help;
- The company does not offer you options to stop foreclosure;
- The company does not know the foreclosure laws in your state;
- The company does not tell you how they can help you;
- The company tries to get you to send your mortgage payments to them to work out the foreclosure deal.
These are all red flags, but you should be wary of anyone who will make you an offer that seems to be too good to be true. There are ways that you can stop foreclosure, but they all take a little time and work on behalf of the loss mitigation specialists.
When you are in the foreclosure process, the information that has been made public will travel fast. Once you receive a Notice of Default or a Lis Pendens, you will have people coming out of the woodwork to try to give you foreclosure help. You have to look for those who are legitimate and can actually help you stop foreclosure. Some of what to look for in loss mitigation specialists include:
- Loss mitigation specialists who explain all your options;
- Loss mitigation firms that offer you a free foreclosure consultation;
- Loss mitigation agencies that know the foreclosure laws in your state;
- Loss mitigation specialists that do not ask you to sign over a deed without legal advice;
- Loss mitigation companies that do not seem to rush you into making a decision.
You can get a free foreclosure evaluation and find out all of your options to stop foreclosure when you visit www.1stforeclosureprevention.com. At 1st Foreclosure Prevention, we have a staff that consists of professionals including attorneys, loss mitigation specialists, negotiators and real estate professionals. We do not just give you one option, we take a careful look at your case and explore all of your options to stop the foreclosure process with you. Then we help you decide on what to do.
There is no obligation on your part to continue with our services after you receive your free foreclosure consultation. We do not ask for fees before we do any work for you and we never ask you to sign over a deed without legal counsel. We understand your plight and are willing to work with you to help you stop foreclosure with every option that is available to you.
