Avoid Foreclosure and Keep Your House Rent Free Forever
“Saving a home from foreclosure requires fast and informed action but the solution doesn’t have to be costly,” announced Federal Reserve Governor Elizabeth A Duke. “It should not hurt to get help.” There are several foreclosure guides available online which assist the homeowner in understanding their options to avoid foreclosure.
Many solicitors of foreclosure schemes reach out to potential victims by a spread of means using the web, the telephone, and direct mailings. Some solicitors go door-to-door or approach owners at events related to home preservation. The information the Fed Reserve is providing, which is part of its “5 Tips” series, is structured to give purchasers the basic information they need to recognize and avoid foreclosure avoidance scams. Clients are counseled to test the recommendations of advisors and to avoid working with someone who collects a fee before providing any services or accepts payment only by assistant’s check or wire transfer. Shoppers shouldn’t pay for a service without knowing exactly what they are buying.
Avoiding foreclosure cannot be guaranteed–regardless of the circumstances. Working with a bonafide counselor can increase the probabilities of keeping a home, but clients should be careful of people who tell them it is a sure bet. Details of the exchange, along with any promises, should be provided up front and in writing.