'We Buy Houses’ How To Avoid Foreclosure Scams!

Brentwood TN:'We Buy Houses’ How To Avoid Foreclosure Scams!

Brentwood TN Real Estate

If you are a homeowner in Brentwood or Nashville TN facing foreclosure then you are probably desperate for any lifeline that involves you keeping your home. It's not easy to handle such a complicated process all by yourself and you may be searching for expert help to get you through these tough times. There's a lot of understandable confusion surrounding the foreclosure process especially since many states still practice non-judicial foreclosure. This means that the state is not supervising the foreclosure process. So whom do you turn to, to get more details? How do you find out how much time you have before you legally lose ownership of your TN home?

A legitimate counseling agency or a reputed lawyer can help you with the right answers to these questions. Most homeowners don't know how to find a counseling service or may not be able to afford expensive legal counsel. You may find yourself being contacted by someone who seems to have all the answers to your questions and is willing to handle the foreclosure process on your behalf. He may call himself a 'foreclosure rescuer' or a 'foreclosure counselor' and offer you any number of options to save your home, from getting a second loan to offering to buy your house from you.

The rescuer, in all likelihood, is probably a scammer who is getting ready to steal your home or a substantial amount of money from you. Foreclosure rescue fraud rates are escalating all over the country. You can find a news item almost everyday about someone who was evicted from their home or a fraudster who walked away with hundreds of thousands of dollars in home equity funds. Channel 5 ran an exclusive story on just this occurrence Tuesday November 18th, 2008.

Signs featuring statements like; ‘We buy houses', 'Instant cash for your home', 'Fast cash loans', 'Refinance your mortgage', seem to be everywhere these days. They can be found nailed to a tree, hanging on a fence, mounted on a telephone poll and do nothing but advertise the scammer's phone number to a gullible public. It's difficult for authorities to take action on these scammers, since they are careful not to do anything directly illegal but operate in underhanded and unethical ways to achieve their ends.

For instance, many 'We buy houses' scams in Nashville and Brentwood TN focus on getting the homeowner to agree to a second loan. The scammer tricks them into signing over the deed of their houses under the guise of filling out a loan application. Another strategy is to offer the homeowner the option of living in their home as a renter, while the scammer buys their house at a cheap rate with the promise of selling it back to them at the end of their lease period. The con artist has no intention of selling your home back to you and will make it impossible for you to meet the terms of the contract by either raising the rent, stealing your mortgage payments, taking out a second loan on your house without your knowledge or any combination of these.

The only way to truly avoid foreclosure fraud is to be aware of these tactics and exercise caution every step of the way! Don't sign ANYTHING you don't understand, isn't clear or has a lot of blank spaces and get everything checked out by your lawyer. If you decide to sell your Nashville or Brentwood TN home contact an established real estate firm to handle the deal on your behalf. This way you'll at least get the equity left in the property after you've settled your mortgage payments and any arrears. As a RE/MAX Elite REALTOR, I am always here to be of service to you, don’t hesitate to call on me for all your Nashville and Brentwood TN real estate needs!

Brentwood TN Homes

Vanessa Stalets

615-957-6333

RE/MAX Elite

615-661-4400