Metropolis Loans Offers Seniors Tips to Save Their Home From Foreclosure

PR Log (Press Release) – Sep 02, 2009 – PHOENIX – As the housing recession continues, senior citizens are becoming a quiet population that is increasing being affected by foreclosures. Not only are seniors being impacted from decreased cash flow from fixed income investments and smaller retirement accounts, but many were also unfortunately victims of predatory lenders.

Metropolis Loans Branch Manager Camerin Hawthorne has been helping a lot of seniors across the country lately work with lenders to arrange loan modifications to save their homes. He offers the following tips to help seniors navigate the process and save their homes.

- Hire a Professional – Don’t risk dealing with a large bank or loan modification agent on your own. Your home is the most important asset you own. Get a professional to protect your home.
- Beware of Quick Fix People – It takes time and skill to handle a loan modification with a bank. Be cautious of firms saying that it only takes a day or two to get your loan modified. It’s a very complicated process that often takes weeks.
- Don’t Pay Upfront Fees – Scammers are telling seniors that they need to pay an upfront fee to the agency or the lender to start the loan modification process. Don’t pay any money upfront. A professional will deliver the service and then collect the fee, not collect the fee before starting the work.
- Don’t Fall Prey to Scare Tactics – A common tactic with scammers is to scare the senior citizen into paying upfront because they tell them that they will lose the home in a couple days if they don’t pay up front. The foreclosure process takes a number of weeks, if not months, and a professional will not use scare tactics to worry the senior into paying an upfront fee.
- Beware of Paperwork – Many scammers are asking seniors to sign paperwork at the beginning of the process such as a deed of trust or power of attorney. Be careful, they may only be interested in scamming you out of your home instead of helping you save it with a loan modification.
- Ask Family Members to Help – Ask family members to meet with the loan modification representative and be prepared to help you ask important questions. Having an extra set of ears will protect you through the process.

Metropolis Loans offers specialized services to help seniors protect their home by working with lenders on loan modifications. For more information on the firm, or to request a no obligation review of your loan, please visit them on the web at http://www.metropolisloans.com or call 866-239-0098.

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Media Contact:
Camerin Hawthorne
Metropolis Loans
866-239-0098