When borrowers run into financial distress and they can’t keep up with mortgage payment they make the mistake of using the services of Foreclosure prevention companies.
Avoid Foreclosure Prevention Companies
You don’t need to pay foreclosure prevention companies fees for foreclosure prevention help–use that money to pay the mortgage instead. Many for-profit companies will contact you promising to negotiate with your lender. While these may be legitimate businesses, they will charge you a hefty fee (often two or three month’s mortgage payment) for information and services your lender or a HUD-approved housing counselor will provide free if you contact them.
Worse still some of these companies purporting to stop your foreclosure immediately have been outed as scams.
It is a risky option to seek the services of a foreclosure prevention company.
written by Constantine Njeru
\\ tags: Avoid Foreclosure, Borrowers, Contact, Counselor, Financial Distress, Foreclosure Help, Foreclosure Prevention, Hefty Fee, Hud, Legitimate Businesses, Mistake, Money, Mortgage Payment, Prevention Company, Profit Companies, Scams
Money fraud is a big problem. If you take simple protection ideas you can prevent yourself from being a victim of money fraud from con artist
Keep checks in a safe place
- Don’t sign a blank check allowing someone else to fill in the amount.
- Never give someone your ATM, credit card or PIN or Social Security number.
- Check your bank statements carefully for unauthorized withdrawals.
- Be careful of joint accounts as both parties have equal access to the money.
- When in doubt, contact the bank to stop payments or checks, to flag or put a hold on the account or to close an account.
written by Constantine Njeru
\\ tags: Atm, Bank Statements, Blank Check, Checks, Close Account, Con Artist, Contact, Credit Card, Joint Accounts, Money Fraud, Safe Place, Social Security, Social Security Number, When In Doubt, Withdrawals