R&D Real Estate Services has always offered services for protecting your investment in your home through maintenance, handyman/repair services and landscaping; but we also like to stay abreast of real estate news so we can keep our customers informed to protect their interests in other ways. Here are some things to look out for:
- If a "mortgage company" says they will help you use a government program to get rid of the burden of your current mortgage obligations, and all you have to do is send them a payment of X amount of dollars to start the information process, it's likely be a scam. And even if it's not, you should shop around before giving your hard-earned money to a lender. There are plenty of legitimate mortgage companies that will send you the same information, absolutely free of charge, in order to get your attention and earn your business. Only after they have done actual work for you (such as a home refinance and the steps leading up to it) should you have to pay any fees.
- If you receive a fancy brochure from someone promising foreclosure relief for an upfront fee, chances are it's a scam. The best place to go for foreclosure relief is your actual lien holder. There was a time when the economy was booming and banks had no problem with throwing someone out of their home for non-payment since they knew they could easily sell the home to someone who could pay (and there are still a few out there who will do it in a heartbeat). However, the current state of economy and housing market has caused a shift in attitude by many mortgage lenders. Call your lender. If you are honest and upfront with them, letting them know you want to do your best to work with them on it, there is a good chance they will reciprocate.
- If a company offers to negotiate a short sale with your bank for you (and some may even use language about "their attorneys helping you") for an upfront fee, it might be a scam. This is something you can easily read up on and then handle yourself personally with your lender, and if you do prefer to have a professional walk you through the process, talk to your real estate agent. Because most agents know they will receive a commission on your home sale, they will typically do the legwork and negotiate between the bank and potential buyers for free! If you don't have a real estate agent, talk to R&D Real Estate Services. In our business, we know many Realtors, so we can direct you to one of them who is qualified in handling short sales. And unlike the scammers, we will NOT be charging you any fees for doing so!
