In fact, many of them are only interested in stealing your hard earned equity, your money or even your home itself. Of course not all of these people are bad actors, some of them are professional real estate investors who are interested in honestly helping you. However, the best advice for you to follow is: Do not sign anything until it has been reviewed by a lawyer that you trust.
You must know exactly what you are agreeing to because once you sign the documents, even if the terms were not explained correctly, and even if you did not understand the agreement, you will be responsible for those terms upon the funding of the loan. Always have an experienced attorney that you trust review any such transaction before signing anything. If you are pressured or coerced in any way to enter into an agreement regarding your home, call an attorney or the Office of the Attorney General to report them.
If you are selling your home yourself to avoid foreclosure, check to see if there are any complaints against the prospective buyer. You can contact the Attorney General, the Real Estate Board, the Banking Commission, or your local District Attorney's Consumer Fraud Department.
your bank files for foreclosure in court, the local newspaper will have an advertisement that your house will be auctioned off on a specific date and time. Unfortunately, some people will view this as an opportunity to take advantage of you in a vulnerable situation by making promises to you that sound “too good to be true” and that everything will work out if you let them handle your situation. The time tested advice that still rings true today, is if it sounds too good to be true, then something is wrong.
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