Watch Out for the Latest Real Estate Scams

July 16, 2009 by · 1 Comment 


I am a very CALM person, but these scammers really make me MAD! In these tough ecomnomic times, with so many people struggling, it seems particularly cruel to rip off families who are in danger of losing their homes.

There are a lot of resources available to help distressed property owners with loan modifications, and options to avoid foreclosure. But be aware that not everyone is looking out for your best interest. Here are three tests you should apply to any offer of help that is offered to you:

1. Am I being asked to pay money up front? Most resources are FREE so if you are being asked to pay up front, this is a big red flag.

2. Am I being asked to sign a document that changes ownership of my property? Many scams involve transfer ownership to a third party. NEVER sign anything unless you understand it completely.

3. Does this seem too good to be true? Unfortunately, in some cases, foreclosure cannot be avoided. But be very careful that you do not make a bad situation worse by becoming victimized by a scam.

Where can you go for help? Here are some great resources:

* Visit the Making Home Affordable site at http://www.MakingHomeAffordable.com

* Call 1-888-995-HOPE speak to a HUD counselor or visit http://www.hopenow.com/ for online advice from HUD.

* Read the bulletin released by the Federal Trade Commission at http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre42.shtm

* Read the bulletin provided by Arizona Foreclosure Task Force or contact them at 877-448-1211.

* Contact your mortgage servicer directly.

About Kristin

I am a Realtor in Gilbert, AZ, working with clients throughout the Phoenix Metro area. I am lucky to love what I do and appreciate the difference I can make in people's lives. In a previous life, I was a rocket scientist - really! - but decided to step away from corporate America to be a Mom to my four boys. Found it hard to do bake sales, so I ran a small independent programming business instead. Flash forward...I am now a single mom and I face many, many challenges everyday. I am living through the hardships that many are facing in this economy. These experiences have motivated me to help other people in my shoes. I have teamed up with Dean Ouellette to form the East Valley Team - the best darn team in the Valley. Check out our site at http://www.EastValleyTeam.com. I spend way too much time on YouTube - check ou tmy channel at http://www.youtube.com/klavanway

Comments

One Response to “Watch Out for the Latest Real Estate Scams”
  1. LOVE IT… Frost my cookie… that made me laugh… keep up the great work

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!

Spam Protection by WP-SpamFree Plugin