Beware of Phony Foreclosure Prevention Hotlines

There are lots of people who advertise themselves as they can prevent foreclosure of your properties. But most of these advertisements are false and their basic objective being to get money from people who have a foreclosure by telling them that they could prevent or avoid the foreclosure but they have to pay a initial fees to it. Most of the people believe in this and give money to these people who silently get that money and gets away leaving you bankrupt and still facing the problem of foreclosure.

 

There are lots of methods used by these phony foreclosure prevention people to get money from you. They mostly give advertisements through television or newspaper and most people would fall for it.  They might even go a further step by calling you knowing that you have a foreclosure closure problem, and will assure you that they can reveal you from all those problems. But they actually create much more problems to us. They would provide you a phony counseling or phantom help of how to prevent foreclosure but with fees. They might also tell you not to talk to any of your lender, lawyer or house counselor. They sometimes might ask you to pay the house interest to them and they would take care of the rest. In those cases they would get money from you for few months and then would disappear. Sometimes they would tell you that they would take care of the foreclosure closure if you write the house in name of them and move out. Then they might rent the house and get the money until the house is foreclosed, whereas you would still be having the foreclosure problem. They would also get money from you and report bankruptcy in name of you which might delay the foreclosure but might result in a bad name and lot of troubles for you.

 

If you find that you have been cheated by some foreclosure fraud then you better Federal Trade Commission or state Attorney General. The best way to tackle a foreclosure is to talk to your lender directly who might help you with a new repayment schedule and they normally would go on with it.