Mortgage Loan Modification - Red Flags To Watch Out For

If you have received a foreclosure notice or are having problems paying your mortgage contact your lender and / or attorney immediately. There are many con artists who prey on customers facing foreclosure. Avoid any person / company that does any of the following:

* guarantees to stop the foreclosure process – no matter what your circumstances
* instructs you not to contact your lender, lawyer, or credit or housing counselor
* collects a fee before providing you with any services
* accepts payment only by cashier’s check or wire transfer
* encourages you to lease your home so you can buy it back over time
* tells you to make your mortgage payments directly to it, rather than your lender
* tells you to transfer your property deed or title to it
* offers to buy your house for cash at a fixed price that is not set by the housing market at the time of sale
* offers to fill out paperwork for you
* pressures you to sign paperwork you haven’t had a chance to read thoroughly or that you don’t understand.