Carpet Baggers feeding off those facing foreclosure

Good Morning America did a piece on companies out to “save” you from foreclosure. I hate to say it but I did hear someone mention this type of scheme is right here in Frederick. I don’t know the name of the company but just be aware they are here.

When someone says I can help you stay in your home and lower your payments but you have to sign over the deed to us or anything of this nature…Be very very cautious. It is not hard to get your information and feed into your worries. The foreclosure proceedings filed with the court is public information on the web and at the County Court house. These scum bags are very good at jilting you out of your home and creating more problems for your future and they don’t care…they are scum bags! If someone ever approaches you and feeds off your concerns, you need to step away and get a second opinion. Call me…I might not be able to help you but I will put you in touch with someone that can give you expert advice.

You have alternatives to Foreclosure, but YOU have to do something about it.

Your Choices…

• Do nothing
• Refi or payoff the loan (obvious, but hard to do or you wouldn’t be in this position)
• Reinstatement – Play catch up, make all past payments, pay off late fees and attorney cost
• Loan Modification – It never hurts to ask for a change to your loan
• Forbearance - A repayment plan or temporary pay arrangements based on financial condition
• Partial Claim – A loan from the lender to include back payment cost and fees
• Deed in lieu of Foreclosure – Give back to the bank, conditions apply
• Bankruptcy - There is a variety of options here call a Bankruptcy attorney for advice
• Sale – This usually results in a short sale where the bank has to approve sale because they are accepting less than what you owe on it.

The key is you need to do something…these are trying times and no one ever plans to be in this position. Seek help. I can help you facilitate the sale of your home, but believe me, I don’t want to put another home on the market if there are available options for you to keep it.

EDIT: Added the following.

Call your lender, should this happen to you. There is also a hotline number to call 1–800–4FRAUD8

Thanks Missy for the video and hotline.