When facing a foreclosure, you may be willing to try anything to avoid losing your home. While there are plenty of good steps you can take, there are also scams that will leave you in worse shape.
Fraudulent foreclosure services will take your money and not offer you any help. There are signs to watch for that signal something is a scam.
Collection of fees upfront
You should never pay for any type of foreclosure assistance upfront. Maryland law makes this illegal. You should never have to pay for information or help with foreclosure alternatives until after you have received the services. And you should note, most of this information is available for free through state resources.
Nobody can guarantee to end your foreclosure
The only guarantee to stop your foreclosure is paying the money you owe or reaching an agreement with your lender. A third party cannot make this happen. Any company telling you they guarantee they can make your foreclosure go away is not being honest.
Collection of mortgage payment
You should not pay your mortgage payments to a company that is supposed to help you stop your foreclosure. If you make any payments, they need to be direct to your lender.
Sign over your deed
You should never have to sign over the deed to your home to get help stopping a foreclosure. Doing this will only put you more at risk of losing your home.
A foreclosure can be scary, but you should only work with your lender or professionals who will help you with the process. Anyone trying to get money or your deed is only out to scam you.