Stopping Process of Foreclosure

There is an old saying. If a rumor has not started by nine o'clock start one. Well, the same thing could be said about scams. If new scam has not been started by nine o'clock start one.

Scams are dime a dozen. They might even through in the baker's dozen. Any time there is a crisis the opportunity seekers come out of the wood work. You know, the ones with no conscience or morals. The ones who would steal the nickles out of their mother's eyes.

The foreclosure crises is not less a fertile ground for scammers than any other disaster.

Folks are between a rock and hard place. They are in panic mode and time is of the essence. Now is the time to me most cautious about everything you do. Your very home depends upon you keeping a clear head and a calm heart. You are about to become a target.

These opportunity knockers will be advertising themselves as rescuers. If you are not careful they will "rescue" you right into the street, without you any savings you may have.

These hucksters will try to make you sign over your deeds to them making you believe they will be making the payments. The change of ownership will never be recorded, leaving you on the hook. All the while you thought you had gotten free. In the mean time they will be collecting rent and drinking campaign and toasting the loser, you.

There are basically three "Got-Cha" plans working the foreclosure field.

There are basically three "Got-Cha" plans working the foreclosure field.

One will convince you to sign the title over to the "investor" with the belief you can remain in the home and pay a rental fee each month. The idea of this scam is to make you believe you can rent to own your own home. A portion of rent will be applied to the buy back price of the home. The reality of this scam is simple. The terms are set so one sided you will never be able to buy the house back and you just end up deserting it out of pure frustration. In the end, some dirt bag owns your home with no costs whatsoever. You just made a gift of it to some one.

Get educated. Do not become a victim of the con artists and scammers of this world.

Then there is the "We are here to help you." group. You know the old saying about government, "we just want to help you", right? "We just want to screw you". You do not need these guys help. They are only charging a fee for what you can do on your own and do it better than they can, if they are doing it all.

It simply amounts to them supposedly making light duty phones and writing letters to the mortgage company trying to arrange some sort of loan modification program for you. Do not fall for it. They will ask you to cease talking with the banker. They will take care of everything for you. They will take you right to the cleaners and in to the street.

By the time you figure out what is going on, it will be too late to seek and get competent help. BeWare! Get some edjamacation under your belt and do your own leg work with the bank and keep your home and your money.

If you ever saw the "Sting" with Robert Redford and Paul Newman you will remember the bait switch pulled off right at the beginning of the movie. These next dirt bags like to do that. Sell you one thing and deliver another.

Their song and dance is to sell you on an easy loan that will bail you out of trouble with the bank. But in reality, what you just signed are papers releasing your ownership in your home. And you will never know it until you the bank gives you the final boot.

Watch out for phone calls from smooth talking salesmen. You may be contacted with door knockers and brochures left at your door. You may find them listed in the classified offering to save your home from foreclosure.

They stress the importance of time being of the essence and not to call any attorneys or CPA's and the bank. They want a quick signature, not giving you time to review what you are signing.

A word of Advice. Do not sign anything for 72 hours after it is given to you. Time is critical, but not that critical. You just may be saving your home. And, not matter what they tell you, call an attorney and the BBB to see if they are legitimate.

This is no time for fast decisions. If the pressure is, show them the door and do not be too polite about it.

However, it is a time for getting smarter, not taken to the cleaners. Learn about the Home Foreclosure Process and how to protect yourself against scams and bank fraud.

Hucksters work on your trust. They are smooth and nice to a fault. They are all smiles and they are your best buddy. They will not let anything happen to you. These leeches pray on folks misfortune and hard times. They stress for you stay away from the very folks that can save your home.

No matter what is told you by any one. Take your time and do not sign anything without reading it and if you do not understand it, get an attorney's advice. If it is a good deal it will be there 3 days from now. If it won't you just got the best deal going.

It may be all fraud, but once these clowns get your "John Henry" on the dotted line, you are going to have a hard time getting it off. Do not let these would be Saving Angels be your Demon from Hell.

Real estate is complicated enough for the professionals. But you can get a handle on it and learn some of what you can do to protect your home if you are willing to roll up your sleeves and get your hands a little bit dirty. Learn some of the applicable law regarding the process of foreclosures and loans and what happens to loans before and after they are made. You just may find out the banks do not want you to know.

Too many Americans are losing their homes do to mortgage default. There has been a steady rise in foreclosure over the past several years and it does not look like it is going to get any better any time soon.

Homeowners need to learn what tools are available to them to stop or avoid the foreclosure process all together. There are a number of ways this can be done. But all techniques are not created equal in the eyes of the law.

Of all the tools available to the homeowner, the very best one is the law. When used properly the law can put a stop to the home foreclosure process. However, if it is used all, this is usually the last tool ever used. It is understandable, because the law can be very intimidating and foreboding.

However, the law is usually friendly if you know it. The key to success is in studying and applying the law. It is not necessary to rely solely on the expertise of an attorney to defend your home.

Many homeowners are the victims of fraudulent lending practices. These practices are not random isolated incidences, but rather are widespread and rampant throughout the lending community. A knowledge of the law can help you identify if you are a victim of predatory lending practices.

Fraud will invalidate any contract. Anything the lender does that could cause you to take a different course of action and does not disclose it or his intentions to you could be fraudulent behavior on the part of the lending institution.

Nearly all contracts are sold before or shortly after they are signed. Were you made aware of this before you signed? Would it have made a difference? Did you know the contract had been reassigned? Did you approve of it? Did you know all parties of a contract have to approve any changes to the instrument? Did you know a reassignment of the contract is a change?

An error of as little as thirty-five dollars in the mortgage contract can be enough to void the contract. Know what is in your contract and know what the law says is suppose to be in your contract. If they do not match you may have a valid claim.

There are many ways a contract can be voided. Do you know them?

Learn about the Truth and Lending Act and your local state laws, then apply them to stop the foreclosure process cold. There are federal laws available for your protection, but you have to know them and then you have to use them.

The whole process could be as simple as demanding the lender produce the original mortgage. That would be the very instrument you signed when you bought your home. In many instances the original contract cannot be produced.

The very best tool available to you is the law. But only if you know how and are willing to apply it.

Do your diligent research at the local law library or on the Internet and then use the law to save your home from the foreclosure process.