Beware of Foreclosure Predators

When trouble comes it can bring out the best and the worst in people. In our little town we’ve seen how tragedy binds us together as a community.  Last year there were 2 letters in The Times from residents thanking the whole community for their support through some tragic circumstances.  

This kind of caring&togetherness is part of what makes our small town of Fountain Hills such a special place in which to live.

But in the worst of times there are those unsavory individuals who take advantage of people who are struggling. 

Foreclosure rescue scams are aimed at people about to lose their homes. These criminals trick the home owners into signing the title of their house away. They promise to pay off  the homeowners’ debt and let the homeowners continue to live in the house.

When people are  drowning they look for a life preserver.

But beware! If it sounds too good to be true it probably is.

If you are in the unfortunate circumstance of  being behind in your  mortgage payments

·    Take action now. Waiting will only make the situation worse.

·   Consult a knowledgeable, experienced realtor to learn the true market value of your home.

·   Find out if you can prevent foreclosure & save your credit.

  You do have legitimate options

·    Find out what steps you will need to take to prepare for a short-sale. The mortgage holder will require verification that you are not in a position to make the mortgage payment.

  When you are armed with knowledge you can protect yourself.

You’ve probably heard the term short sale quite a bit lately. What is it? Basically, it means that the mortgage holder (usually the second lien holder) is willing to forgive part or all of the debt and let you sell the house for less than you owe.

 Slowly, mortgage holders are coming to the conclusion that a short sale can be less expensive for them in the end than foreclosure and they are becoming more co-operative about short sales.

If you have concerns about your mortgage payments ask a question below or call Erica West at (480)837-7000.

Representing Fine Homes and Qualified Buyers in Fountain Hills Since 1984.