Homeowners Facing Minnesota Foreclosures Should Be Conscious Of Scams

The pretend to have a toolbox that contains all the gear required to fix Minnesota foreclosures

. The problem is that the box is as empty as their claims to have the solutions you require. That box may have just enough room for your hard earned dollars.

Millions of people are in foreclosure in America. The Sultans of scum are waiting to separate you from your money at a time when you can least afford it. This can be a bewildering process and it may be hard to figure out who is an ally and who is your enemy.

Rule number one is to know that there is no legitimate entity that needs to collect cash from you before they take action. You should report any individual, company, or online company that is demanding advance fees to the Attorney General or other proper authority.

You will not avoid foreclosure with a magical rent or lease to own gambit and there is no viable buyback strategy that will save you. Watch out for these trigger words and use them as a cue to disengage from any interaction you were considering.

Identify theft grows at an alarming rate in this country. Never give your social security number to anyone without due diligence. There is enough emotional carnage connected to potentially losing your home. Do not add the grief of losing your identity to thieves.

Virtually all outfits connected with loans on existing homes have free counseling services. They are staffed with knowledgeable people ready to assist you. When someone attempts to collect a fee for giving you advice it is normally always a ruse.

An ice cream cone or a slice of pie is a quick fix. There is no easy and fast way to resolve foreclosure so when you hear those words it is time to run in the other direction. Someone is definitely lying to you at this point.

Your lawyer, a recommended reputable real estate attorney, or nonprofit law firms working to stop foreclosures should be part of your team. Do not ever sign any legal binding agreements without consulting one of these professionals.

The best nonprofit foreclosure counselors in Minnesota are well known. You can check with HUD (Housing and Urban Development) to find out who the trusted state counselors are and how to contact them for support. These experts do not charge a fee to the homeowner for their effort.

Loan Modification companies that contact you may not even be located in the state. Some of these outfits that collect five hundred to four thousand dollar fees in advance may not be legitimate at all. They will take your money even if they know they cannot help you.

Their promise of lowering your mortgage payment or effectively changing your loan in any fashion is false. Know the law pertaining to foreclosure in Minnesota and ask about your redemption rights. The best person to defend you from the legions of scam artists is you.

If you believe you are a victim or potential victim of dishonest company or individual it is important to report it to the proper authorities. This will protect you and may keep others secure.

by: Jack Bennington

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