downtown San Diego real estate   mls listing 

San Diego downtown real estate broker

Bob Schwartz, CRS, GRI 

Certified Residential Specialist

 


  

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San Diego, California

Telephone - Cell:
(619) 300-8819

Facsimile:
(619) 229-0048


E-mail:

 Click here to email Bob

Copyright © 2006 by

Bob Schwartz

San Diego real estate broker

Certified Residential Specialist
Promotions Unlimited

All rights reserved.

You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement.

 

Foreclosure Prevention Services

When you receive a foreclosure notice in the mail it is best to know what their procedure will be. If you know this then you will be able to tell how much time you have, to see if you can prevent repossession. It is good to be able to explore your alternatives rather than just sitting back and letting it happen. Repossession of your home is a nasty affair and has far reaching affects. If you can stop this from happening then you will be able to prevent further problems. Once you know the steps that will be taken you can be prepared. Here are the steps that are taken when your house is to be reposed.

Many states have different laws regarding foreclosure procedure. You will need to check your particular area for details. However the basic steps will be the same. Firstly you will have to understand exactly what this term means. It is when you default on your payments and you receive a notice from the lender that they will be repossessing your home. Your circumstances will determine your next steps. As soon as you get the notice, find out as soon as you can what your alternatives are. Do not think that just because you received the repossession notice your home is gone there are steps you can take too save your house and credit rating.

Foreclosure prevention services are companies that can help you to stop your home from being repossessed. They will advise and help you, by suggesting ways that you can use to prevent this disaster. It is essential to know all about the company before you sign any contracts. There are some good companies that will be able to resolve your problem. However there are also a good number of scammers out there.

Warning signs when you choose a foreclosure prevention service:

In order to prevent any further problems be careful to check for these warning signs. When you see these tactics being used by the company you are dealing with you should think twice before signing up with them. There are a lot of people who get taken in by these disreputable companies and lose everything. You do not have to be one of these people, and when you stay alert and do not panic you can resolve your problem without getting conned. Watch carefully for these points.

Fees for a foreclosure prevention service:

If a company is asking for fees before they deliver any service, be careful. They may just take the fees and run, leaving you in a poorer position than before. It is common for these scammers to charge large fees and then just disappear without rendering any services. They either cannot be contacted for inquiries or just close their doors and run.

A couple more tricks:

Another deception these disreputable companies have is to try to get you to give the mortgage payments directly to them. This is taking a big gamble and can put you in bigger trouble that before. Another way foreclosure prevention services can scam you is when a company asks you to sign over the property deed to them. You are taking a huge risk doing this as you may end up losing everything. Be very sure to make sure what they will be able to do for you. If possible get it in writing. Read the contract very carefully and if necessary get your attorney to check it before you sign anything. It is better to be safe than sorry. Remember it is your home and reputation on the line.

Positive signs when you hire a foreclosure prevention service:

Try to find a company that gives a free consultation at first. This will help you to clarify your situation and allow you to see what options are available. This will also give you the opportunity to check out the company and understand fully what they can do for you in your specific situation. A free consultation usually means that the company is more reliable as they are prepared to give you some of their time to enable you to resolve your problem, before they ask for money.

Credentials:

It is wise to check out their credentials. A foreclosure prevention service should be honest about their success rate in assisting you. There is no way that they can give 100% guarantee that they will be able to help you out. Also they should be registered with the Better Business Bureau (BBB).

In the end however, if you see that circumstances will not improve then you might consider selling your home and arranging someone to invest in your property. Try not to let your home go through the foreclosure procedure as this will damage your credit and you will not b able to get another mortgage easily for a second home. You will lose a lot of money when you lose your home.
 

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