Foreclosure Rescue Scam

Foreclosure.  It is a dirty word.  A word which we do our very best to avoid even noticing.  It is also a word that haunts the dreams of Americans who wake up in the morning with the decision to either pay their mortgage or put food on the table.  Nobody should ever have to make that choice, and there are many, many ways to avoid that situation.  However, once you are in that position, there are those out there that seek to profit from you.

Anybody making promises to reduce your monthly payments in half is probably not as reliable as they may appear.  The fact of the matter is that every jurisdiction that has foreclosures will have a system to assist homeowners in distress.

Foreclosure Rescue Scams on the other hand will make vague claims and promise you immediate relief.  In some situations, they may actually help you, but there are a few warning signs you should look out for.

Credibility.  Do they have a proven track record?  Just because a person, or company, makes a claim, it does not mean that they are reliable.  Research them.  A helpful trick is to type in the name along with scam into your preferred search engine.

How much? Any company that asks for money up front is not somebody you should be in a rush to deal with.  Especially when your bank employs people for the same job, and are required to try and help you.  The government also has the Making Home Affordable program.

Are they forceful? Do they threaten you? Be careful with people like that.

Foreclosure is a terrible thing to occur.  But falling for a foreclosure rescue scam can put you in an even deeper hole.  There are many resources available to you that are free and reliable.  Do not be afraid to use them.  And if you ever have any question speak to your state’s Attorney General’s Office, as they are in a position to help you.

Remember, be smart and use common sense.

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