Where Do I Start?
BEWARE OF SCAMS!
DO NOT PAY ANY MONEY UP FRONT TO PEOPLE WHO PROMISE TO HELP YOU!
As Professional Licensed Realtors, we only get paid when we help you with your situation. And our solutions may not include selling your home! There are options!
Solutions that sound too simple or too good to be true usually are. If you're selling your home without professional guidance, beware of buyers who try to rush you through the process. Unfortunately, there are people who may try to take advantage of your financial difficulty. Be especially alert to the following:
Equity skimming. In this type of scam, a "buyer" approaches you, offering to get you out of financial trouble by promising to pay off your mortgage or give you a sum of money when the property is sold. The "buyer" may suggest that you move out quickly and deed the property to him or her. The "buyer" then collects rent for a time, does not make any mortgage payments, and allows the mortgage company to foreclose. Remember that signing over your deed to someone else does not necessarily relieve you of your obligation on your loan.
Phony counseling agencies. Some groups calling themselves "counseling agencies" may approach you and offer to perform certain services for a fee. These could well be services you could do for yourself, for free, such as negotiating a new payment plan with your mortgage company, or pursuing a pre-foreclosure sale. If you have any doubt about paying for such services call HUD-approved housing counseling agency. Do this before you pay anyone or sign anything.
Here are several precautions that should help you avoid being "taken" by scam artist:
- Don't sign any papers you don't fully understand.
- Make sure you get all "promises" in writing.
- Beware of any loan assumption where you are not formally released from liability for your mortgage debt and contracts of sale.
- Check with a lawyer or your mortgage company before entering into any deal involving your home.
If you're selling the house yourself to avoid foreclosure, check to see if there are any complaints against the prospective buyer. You can contact your state's Attorney General, the State Real Estate Commission, or the local District Attorney's Consumer Fraud Unit for this type of information.
MDRE Pros can help sell you home if needed, without having you pay any money up front! All you have to do is fill out this short form to set up an appointment with one of the MDRE Pros Licensed Professional Realtors. As a licensed Realtor, we will work on your behalf, for your best interests. We will handle all of the details, and we can negotiate with your lender regarding the options of your pending foreclosure.