MYTH: My mortgage company would rather foreclose on my home than keep me in it.
The mortgage company sustains an average loss of about $58,000 when foreclosure occurs (TowerGroup study). They are in the business of providing mortgages - not owning or selling homes - and would always prefer to keep you in your home. We'll help you work with your mortgage company to pay back your loan and stay out of foreclosure.
MYTH: Foreclosure is an uncommon problem – I’m all alone in this.
Foreclosure is a challenge faced by millions of
Americans every year from all walks of life. Rich,
poor, young, old - the list is as diverse as society
itself. It's nice to know someplace you can turn to
for caring, non-judgmental advice if you find
yourself struggling with your mortgage:
800-970-8342. We'll be with you every step of the
way.
MYTH: I’ve only missed one payment – I can likely catch up.
The most important thing to remember when playing
catch-up with your mortgage is you owe any
delinquent payments plus the current month's
payment. So, if you're a month behind, you actually
owe two payments - last month's and this month's. By
calling 800-970-8342 right away, even before you've
missed a payment, you will have more options
available to you.
MYTH: I’ve missed too many payments to get help.
There's always time to get help. We can't work
miracles, but we can always give expert advice for
any situation. That being said, the help we're able
to offer is far more constrained if you're eight
payments behind than if you're one or two behind.
The sooner we can get involved, the better chance
you have of avoiding foreclosure.
MYTH: I’m getting many offers of “help” from a variety of different people. Are they all scams?
Because of the public nature of foreclosures, anyone is able to access foreclosure listings on a daily basis. These include the owner's name and address at the very least, and in some states, they could include other sensitive information. Armed with this data, scammers can take advantage of a desperate owner. Here's what to look for to avoid foreclosure scams:
1. Your home's ownership changes hands. A common scam is where a party buys your home, then lets you rent it back. It sounds good at first, but you're losing your property, and your new landlord can now legally kick you out of your home with little to no notice.
2. You're under pressure to act immediately. Of course it is imperative that you act quickly, but make an informed decision. Some will prey on the stress and anxiety surrounding the foreclosure process by convincing owners to sign things they don't understand.
MYTH: It’s impossible to stay in my house after foreclosure proceedings begin.
Contrary to what you might think, there are still options available to you after the foreclosure process has started. The sooner you call us, the more tools we'll have to help you fix your situation.
