Freedom Foreclosure Prevention Services and their CEO Jeff Segal have set an industry example of ethical Foreclosure prevention practices. With foreclosures on the rise there are scammers seeping through the cracks. It is more difficult for homeowners to find the right company to help them avoid their Foreclosure.
Recently I spoke with Jeff Segal, the President and CEO of Freedom Foreclosure Prevention Services (FFPS), and asked him what homeowners should be concerned with the most when looking for Foreclosure prevention services. He had this to say:
“The first thing a homeowner should do is get the legal name of the company offering to help. Also, ask about the President or Owner of the company. Homeowners need to realize that they are trusting someone with their home, their livelihood, their family. Now is not the time to act quickly no matter how rushed they make you feel. Take time to research them thoroughly and find out how long they have been in business. To do this simply ask what state the company is registered in. Each state has a Secretary of State department in which you can run a check. If there isn’t a record of their articles of incorporation or articles of organization they are probably one of what we call ‘pop-up’ companies. They pop-up overnight and blast things all over the internet to appear as though they have some presence and when they get your money they run.”
“The next thing you should do is check their BBB record. It doesn’t necessarily matter that they are members but rather what has been reported on them. Now some companies may not appear at all which may give you the false sense of security that they are a-ok. This is not usually the case. It takes some time for the BBB to file the actual complaint and post this on their internet database. Usually a company without any record usually means they haven’t been around long enough.”
“Anyone can get a website or a blog and create press releases. You need facts about the company. You need to know their legal name and CEO’s name or President. These companies will hide behind their websites and give the impression that they are an actual company when infact they could be working from a basement with no previous knowledge of the business they claim to be in. With the internet housing so many legitimate businesses it’s easy for someone to come along and copy information and appear to have the same knowledge or support that a 10 year old company has. Make sure you get a number for their corporate offices and can speak to an actual person. They have virtual offices now that if you call an 800# you will not get an answer but rather an option to enter an extension or reach someone in the company directory. Once you enter an extension this call is then rerouted to someone’s home telephone number. Do your due diligence on the company that you are working with.”
“Thirdly, before giving them any information about your situation you should ask them what they think the best alternative is for saving someone from Foreclosure. If anything they say involves anything other than loss mitigation or directly negotiating with your lender then run the other way quickly. Some homeowners may not qualify but before they have your personal information, an ethical company will tell you that the first and most advantageous solution is loss mitigation (sometimes casually generalized) or specifically negotiating with your lender. Now again, business men aren’t usually stupid. Some will know to tell you this to get you in the door. This is where your previous research will come in handy at helping you make an informed decision.”
“Lastly, you want two things in writing before paying a dime. One, they offer 100% guarantee if they can’t save your home using the services specified in the time alotted. You want a company that will part with ALL of your fees 100% if they did not fulfill their end of the bargain. Second, you need to have the specified services they are to perform for you in the contract as well. Do not accept a contract that says they will perform ‘one of the following services’ without specifying exactly which one.”
“It is imperative that homeowners do their research. I can’t tell you how many homeowners come to us after a situation like this has turned ugly. Most of these companies are looking to get their foot in the door only to try and steal your home or your equity. Sometimes when a homeowner has undergone such disgusting representation it is too late for an ethical, above board company to offer them help effectively. These homeowners have been drug along thinking they were being helped only to find that essentially all their time has been eaten up and their house is slipping through their fingers.”
“After many years we’ve seen the worst of what these people have done and the blazing path of dreams they have left behind.”
“My best advice - take your time and do your research. If you are facing Foreclosure you deserve someone on your side that truly cares. We wouldn’t approach a Foreclosure situation any other way. We enjoy the lasting emotional elation that our clients feel after their home has been saved. We are in the business to help save Americans from homelessness, restoring faith, supporting families and helping others.”
In my research I have seen many a company but most of them appear to be what Jeff Segal referred to as “pop-up” companies. The others promote options such as short sales as a first alternative when, ethically, this should be the last possible option. Their interest appears to be in the bottom line and not the heart of the homeowners dreams. Freedom Foreclosure Prevention Services has proven to be one of the best in this industry.
