Mortgage Foreclosure Scam

A person or an organisation offers to help you but asks you to sign over the deeds to your house, first.

Unless this is your doting and very wealthy great aunt Flo, DON'T! Take legal advice first.

Why?
Because signing over just the deeds to your house does not necessarily transfer your contract with your mortgage company.

So you could find you've given away your house, the rogue you gave it to has melted away, and you still have to pay off the mortgage! Doesn't bear thinking about...

A question to think about. No - two questions
1. At the point that you would sign over the deeds to your house, whose name would be on the mortgage loan papers? I'm not a lawyer but I suspect (and urge you to confirm) that person (probably you) is liable for the mortgage.

2. And in signing over the deeds, the basis on which you got the mortgage has changed. Could this potentially throw up any new (breach-of-contract-type) issues?

Don't let this happen to you

• Before you sign over the deeds to your home, please ... PLEASE ... consult an attorney who specialises in real-estate finance.


• Have a look at this at this free guide to find out one of the first things you must, must do to stop a foreclosure on your home. Only you can do this, and it costs you nothing (Hint: see pages 6 & 7). To receive the guide immediately, please click on this link and then click 'Send':
  
  HelpWithPreventingForeclosure@googlemail.com

If anyone asks you to sign anything that gives them power to act for you, STOP.

Scrutinize every word on that wad of papers. Down to the teeniest fine print. Especially the teeny weeny fine print. Make sure you fully understand and are 100% happy with absolutely every word and punctuation mark.

Better still, have the contract double checked by an attorney specializing in this area of work.

If there is anything - no matter how apparently minor it may seem - anything at all that you are unsure of, ask and keep asking until you understand it fully. And then run it by your lawyer.

If you have any questions, even a small part of a question, unanswered, don't sign the papers. Wait until the person you are dealing with finds the answers AND you're completely satisfied. And then run it past your lawyer.

Why so much caution?

• Because you should always be crystal clear about what you're getting into when you sign any legal document.


• Because this is your house, your home. You want to make sure you're not giving part or all of your home away. If that's not your intention.


• Because you don't want to expose your personal financial information to just anybody


• Because you don't want to waste your time with anyone who's not actively and urgently helping. Not when things should be moving along quickly.


• Because when you understand what services are being offered, you will probably find that YOU can do most of it yourself. Yes ... YOU. Have a quick look at this (Click and then Send):
  HelpWithPreventingForeclosure@googlemail.com

The HUGE red flag is the 'Don't contact anyone'.

WHAT!!
You shouldn't keep in touch with your lawyer? Your mortgage lender? Credit councelor?

Why not?
There is no earthly reason why you should not keep in regular contact with all those people.

What is most likely to happen is, this person or organization takes your fee, does nothing and dissappears.

So, two things:

1. Be extremely suspicious of anyone who asks you to break off contact with any one of your finance professionals.


2. What were they going to do that you and your finance professionals couldn't? Not a lot. Find out the steps you have to take and decide for yourself if you need to pay a middleman or not. Simply click on the link and then 'Send':
   
   HelpWithPreventingForeclosure@googlemail.com

The promise: They will help you sell your house and take some of the profit from the sale, as their fee.

The conditions:
1. You sign over the deeds to your home
2. You move out

You might think this looks like a reasonable option because you pay little or nothing up front.

You may also be thinking that there's no need for any dodgy business because these rescue people will receive a large payment when the house sells. Afterall, it's in their interest to sell your house for the best possible price. Not so?

Well, do consider...

• It is rare that this type of scammer will take a long view.


• Houses are not easy to sell at high profit now.


• Houses are not selling easily (unfortunately there are a lot of foreclosed homes on offer).


• You have - albeit fleetingly - considered the possibility of something dodgy going on (The mere fact that it occurred to you is a very good reason to pay close attention).


• This question - Why do you need to sign over the house to sell it?


• Another question - Why do you need to physically move out?

The sting:
The scammer rents out your home and keeps the money. The scammer does nothing about the foreclosure which proceeds as scheduled. You lose your home. Plus you've still got the mortgage to sort out.

Make sure this mortgage foreclosure scam does not happen to you
1. Before you sign anything, get your attorney to go over all the documents with a fine tooth comb, and then explain it all to you as if you were a five-year-old.

2. While you wait for your attorney's feedback, get to understand how far along the foreclosure process, and the options you have right now. Click on this link and then send:

HelpWithPreventingForeclosure@googlemail.com