California forclosure scams are becoming more common these days being so many Californians are trying to avoid foreclosure or stop foreclosure on their home. There are some simple steps to consider if you are trying to avoid foreclosure before you decide to pay someone to help you save your home.
Because we are California bankruptcy attorneys we typically don't have clients come to us early in the foreclosure process. Typically, filing bankruptcy is the last thing someone want's to do to try and save their home from foreclosure. Bottom line is that if you are searching for means to avoid foreclosure the first thing you should learn is how to avoid foreclosure scams. Additionally, your bank is not your friend, and certainly not looking out for your best interest.
Some of the most common foreclosure scams are realtors or attorney groups claiming they can modify your loan to affordable terms or get you a mortgage principal reduction. Often times taking the money and doing nothing. We also see many realtors and foreclosure consultants preying on homeowners facing foreclosure by offering to buy their home or go on tiltle. DO NOT SIGN ANYTHING until you have an attorney review it, and not the one asking you to sign.
You can't trust just anyone with your difficult situation, even dealing directly with your lender can end up with you being scammed. We recently had a client who came to us after being scammed by a loan modification company for $3500, a foreclosure consultant for $2,500, and individual offering to file an emegency bankruptcy chapter 13 for $1,000 which was dismissed, then tried to arrange a sale to an investor and steal $70,000 of equity. To make matters worse, her own bank, Bank of America gave her bad information and her home was sold right out from under her.
The sad part about the whole thing is all of this could have been avoided by consulting a bankruptcy attorney early in the foreclosure process. Never the less, if you are in foreclosure you have a target on your back labeling you as easy prey. Here are a few things for you to consider when trying to stop foreclosure and avoid foreclosure scams.
- Do NOT sign anything before it's reviewed by an reputable attorney!
- Do NOT pay anyone upfront fees for a loan modification!
- Do NOT let anyone buy your property until you have consulted a reputable attorney!
- BE CAREFULL dealing directly with your lender- They are NOT your friend!
- Do NOT let anyone go on your title!
If you want to save your home from foreclosure and avoid foreclosure scams call the Law Offices of Zhou & Chini for a FREE consultation with a bankruptcy and foreclosure defense attorney.
