Question by Need Help: Has anyone out there used a foreclosure prevention service? How was your experience?
We don’t want to lose our home, but we are very skeptical of those who claim that they are trying to “help” us. We don’t want to get taken advantage of a second time to add insult to injury! That’s what the mortgage company foreclosing on us did by selling us a predatory loan in the first place! >:-(
Answer by VanJohn ♫
There is too much risk for fraud in those kinds of services. They do not exist to give you the service that you expect, that’s for sure. Experts in the field will tell you that you should go to you lender – the people that may initiate the foreclosure and seek solutions there. The presumption is of course that your loan is through through a conventional lender. The lender loses money also if they have to go through foreclosure and re-sell a property, so if there’s a way to work out a solution, they may be willing to assist you. That doesn’t mean of course that you’re current financial condition allows you to fulfill the barest of remedies, but I’d start there before going to any of the “Let us help save your home” places. What that often translates to is, “let us save your home from the lender, and we’ll foreclose on it ourselves’.
What do you think? Answer below!