Why is it that whenever someone is down on their luck and at their most vulnerable-you have people who are just waiting to take advantage of these poor folks, so that they can make a quick buck!? The poor folks being targeted now are homeowners facing foreclosure. Many have tried to work a out a solution with their lenders only to give up in frustration because of the excruciatingly slow and red-tape filled process.These folks are prime candidates for getting ripped-off. Desperate to save their homes, the scammers promises of making everything "right with their world" again...are just too appealing to pass by.Here's the standard pitch by these con-men:
Unsuspecting victims are told by these shysters that for "a $2500 fee up front and $2000 per month to cover legal costs, they can pressure lenders to stop the foreclosure by challenging the legality of the loan agreements". Another trick of these con-artists is to take a small ownership stake in the client's houses and file for bankruptcy, temporarily suspending foreclosure procedures. Another lie they tell their unsuspecting prey, is that they will intervene with your lender and negotiate lower payments on your mortgage. Don't believe any of this for a second. It's too bad there are people out there like this, but it is what it is. If you find yourself in a pre-foreclosure or foreclosure situation, there are legitimate agencies to turn to. First and foremost, speak with someone in the "Loss Mitigation Department" with your lender(s). Next, check with your local city or township-many have set up "Foreclosure Aid Departments". Ann Arbor and Washtenaw County offer this assistance. Also, a Realtor that you trust, can be invaluable as well.
If you have any comments or feedback about this post please enter your comments below. Also, if you have any real estate comments, questions or concerns feel free to contact me at the Wickland Group, associated with the Keller William of Ann Arbor. We’re dedicated to providing our customers a 10+ experience whether they’re relocating into or relocating from the Ann Arbor or Plymouth-Canton communities because… Your Move Matters To Us!
By Steve Wickland
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