Avoid Foreclosure and Keep Your House Rent Free Forever
“Saving a home from foreclosure needs 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 barristers 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 house owners at events related to home preservation. The information the Federal Reserve is providing, which is part of its “5 Tips” series, is intended to give consumers the basic info they have to recognize and prevent foreclosure avoidance scams. Clients are urged to check the certifications of advisors and to avoid working with someone that collects a fee before providing any services or accepts payment only by cashier’s check or wire transfer. Consumers shouldn’t pay for a service without knowing exactly what they are buying.
Avoiding foreclosure can’t be guaranteed–regardless of the circumstances. Working with a bonafide counselor can increase the chances of keeping a home, but consumers should be careful of people that tell them it’s a sure thing. Details of the transaction, together with any promises, should be provided up front and in writing.
