Avoid Foreclosure and Keep Your House Rent Free Forever

“Saving a home from foreclosure requires fast and informed action but the solution doesn’t need 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 selection of means using the web, the telephone, and direct mailings. Some barristers go door-to-door or approach homeowners at events related to home preservation. The information the Fed Reserve is providing, which is a part of its “5 Tips” series, is designed to give consumers the basic information they need to recognize and prevent foreclosure avoidance scams. Clients are counseled 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 assistant’s check or wire transfer. Consumers should not pay for a service without knowing precisely what they are purchasing.

Avoiding foreclosure cannot be guaranteed–regardless of the circumstances. Working with a bonafide counselor can increase the chances of keeping a home, but consumers should be wary of people that tell them it is a sure bet. Details of the exchange, together with any guarantees, should be provided up front and in writing.

Category: Contributors