An email from the Greater Milwaukee Association of Realtors warned about some "rescue scams" related to foreclosures. Some of the scams to be aware of include:
– The scam artist tells you her can negotiate with you lender – for a fee – and they are never seen again
– You are asked to pay the scam artist your mortgage payments directly as they negotiate for you
– You are asked to sign new documents to help your situation yet instead end up signing over title
Those are just three examples! Don’t you hate it when people get kicked when they are down?
Now, not many homeowners are ultra-knowledgeable about in what to do in a foreclosure situation. So who DO you believe? Talk to a Realtor you trust, your bank, your lender. Be wary of solicitations in the mail. Find a non profit housing counselor who will help you for free. See http://www.hud.com/ or http://www.findaforeclosurecounselor.org/ or http://www.takerootmilwaukee.com/
As always, be wary of things that sound too good to be true. And check out any company you work with at the Wisconsin Better Business Bureau.
Thank you for reading the First Weber Wisconsin real estate & Wisconsin Living blog for information on foreclosure scams.