Too good to be true


By Kathy Henne



Unfortunately, some homeowners are still facing mortgage default, and while the best bet is to contact your lender directly, there are tempting advertisements out there for companies that claim they can solve your financial crisis. Fraud is rampant, so look out for the following warning signs.

First, don’t believe the hype when you hear, “We’ll stop the auction!” or, “Debt eliminated, guaranteed!” If it sounds too good to be true, it is!

You should be suspicious of any company that tries to gain your trust by imitating a government agency. They may (illegally) publish government logos and names, or even copy the look of an official website, so pay attention to the details.

Back out of any deal that requires you to pay any fees up front. There is no need to pay anyone to modify your mortgage terms, because your lender, and only your lender, can do that.

Most importantly, do not make mortgage payments to anyone but your lender. If a person or company presents you with an official looking statement that indicates payments should now be made to the, don’t walk — run for the door, and call the Better Business Bureau.

By working directly with your lender, you may be able to modify your loan terms, or agree to a pay-off through a “short sale.” Lenders require the property be listed with a local real estate agent if you decide to do a short sale.

Please heed this advice. You don’t want to have one of these fraudulent groups to take advantage of you.

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By Kathy Henne

Contact the Kathy Henne Team RE/MAX FINEST by calling (937) 778-3961.

Contact the Kathy Henne Team RE/MAX FINEST by calling (937) 778-3961.