Homeowner Foreclosure Resources and Scams
It’s no secret that foreclosures have been on the rise for the past number of months. It’s unfortunate, though almost predictable, that with this escalation individuals looking to exploit the impacted homeowner emerge from almost every vantage point. So-called “foreclosure rescue companies” attest to the ability to rescue you from foreclosure but, in the end, are simply out for an ill-gotten-gain. Listed are a few things to watch out for with regard to these scams:
- Asks for money upfront prior to providing any type of service
- Instructs you not to contact your lender, lawyer, housing counselor, family, friends or others
- Asks for mortgage payments to be made directly to his or her company or a bank account set up by that person, rather than your lender
- Promises to stop the foreclosure process, no matter the circumstances
- Advises you to transfer your property deed or title to his or her company
- Encourages you to lease your house and buy it back over time
- Offers to buy your house for a fixed price that is not set by the housing market at the time of sale
If you have found yourself facing the unfortunate situation of falling behind on payments and are looking for answers, there are a variety of effective resources at your disposal. One of which is the Housing Resource Center of Monterey County (HRC), formerly known as “MOCHA”.
A non-profit corporation, HRC is a comprehensive one-stop center for homeownership opportunities, rental information, credit counseling services and housing education. HRC’s commitment to effective community service is unyielding and supported by an intelligent and capable staff. While numerous loans have been modified for Monterey County homeowners, attendance at an HRC Mortgage Foreclosure Prevention Workshop is required prior to private counseling services. For more information and to schedule a seat at an upcoming workshop, call HRC at (831) 424-9186.
Other legitimate resources:
- Dept. of Housing & Urban Development (HUD) www.hud.gov
- California Dept. of Real Estate (DRE) www.dre.ca.gov
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