How To Get Foreclosure Assistance

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Many people who find themselves in mortgage trouble would love to avoid foreclosure, but they don't know how, or even where to start. This is why foreclosure assistance can be very important. There are counselors and experts you can turn to who will be able to help you find out what your options are if your loan is in default or likely to foreclose.

However, there are also many companies offering foreclosure assistance that are less than honest. Foreclosure assistance scams are on the rise, as more and more loans foreclose. These organizations take advantage of the vulnerability and panic that most people experience when they find out that they're facing foreclosure. Homeowners could be cheated of their money as well as losing their home. In the worst case scenario, homeowners desperate to escape foreclosure could find themselves renters in their own homes, or accidentally sign the house over to the foreclosure assistance company but still be liable for the loan.

The Most Common Scams

How do you tell the difference between legitimate foreclosure assistance and a scam? Make sure that you read everything carefully. Ask a lot of questions, keep your cool, and remember that any deal that sounds too good to be true probably is. Never sign anything without running it by a third party expert who can tell you just what you're signing. Short term loans, realtors or investors who are interested in your equity, anyone who wants you to deed them your home to get out of foreclosure, attorneys who tell you to file bankruptcy, and debt negotiators should all be scrutinized carefully, as these are some of the most common scams used.

Legitimate Foreclosure Assistance

You can find legitimate foreclosure assistance in a number of places. The US Dept. of Housing and Urban Development, or HUD, offers free and low cost counseling and advice in most locations. Some states also have programs that can help you find out your best options and get advice when foreclosure threatens. There are also private organizations that offer professional foreclosure assistance, and you could always talk to a real estate lawyer.

The Best Foreclosure Assistance...

A quick search online will turn up many options. Try including your state or local area in your search, or start at the HUD website, so that you won't turn up as many unrelated links. The best foreclosure assistance will help you find out how to stop the foreclosure process in your state, as well as telling you how that process works, what your rights are under the law, and how to avoid scams. You'll also be told up front what all the fees and charges you can expect to encounter are, including the foreclosure assistant's fees, if there are any. Be careful of anyone who glosses over the expected charges.

Free Or Low Cost Assistance

Avoiding foreclosure can be a lot easier if you find the right assistance. Staying calm and making sure that you pay attention to what you're being told is the best way to be certain you're working with a legitimate person or organization, rather than one that wants to take advantage of you. There is real help out there, and much of it is available for free, or at a low cost. Take advantage of the opportunities available to you, and stay out of foreclosure.

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