From Realtor.Org comes a warning about scammers who are threatening homeowners, who try to take advantage of borrowers in trouble. The scammers charge fees for "quick and successful" negotiations" with banks. But in most cases, do nothing except take the homeowner's money.
The Federal Reserve issued this advice for borrowers who want to modify their mortgages:
1) Work only with HUD-approved nonprofit counselors. (See www.hud.gov)
2) Don't agree to pay a fee before you are provided with the promised service.
3) Beware of people offering "guaranteed" results.
4) Don't sign blank forms or documents you haven't read.
Contact me with any questions - I've worked with many homeowners in preforeclosure situations.
Sherry Armstrong, Realtor
www.sherryarmstrong.com
sherry@sherryarmstrong.com
386-679-3191
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