Foreclosures on The Rise
We all know that foreclosures and short sales are on the rise. Here in Pike and Wayne County we are seeing many more “REO” and foreclosure properties than in times past. As more and more homeowners find themselves “upside down” with their home, many are desperate; fear of losing their home may cause them to grasp at any straw that comes along.
Teresa Boardman, a REALTOR in St. Paul MN, has written an excellent article warning homeowners against so-called “Foreclosure Rescue” schemes.
We’ve heard their ads on the radio, on TV; we’ve received their spam in our inboxes; we’ve seen their convincing ads online.
If you or someone you care about is facing foreclosure, please take a minute and read Teresa’s article before signing up with some shyster promising you the world…what you may end up may be a world of TROUBLE.
Foreclosure photo courtesy of respres, via Flickr Creative Commons.
Filed under: Foreclosures, The Rambling Realtor Misc. Category Tagged: | foreclosure, real estate, scams, short sales
Very good advise. the best thing that a homeowner in trouble could do is start out talking to the lein holder.
Banks really don’t wnat to take the houses back. With all the government push to calm the foreclosures the homeowner should try to work out a plan with the bank to get current. Some will refinance, changing payment amounts, rates etc. Talk to an attorney before you sign any papers or give anyone any money!
Richard
Don’t be fooled with online scams, they really sucks! I got a lot of e-mails every now and then telling me some sort of winning but actually will scam you if you’ll attentively reply to them with your personal information.