Creative Freedom Foreclosure Prevention

Since the rise in Foreclosure rates in 2006 companies and individuals have positioned themselves to take full advantage of the situation and in many cases, the homeowners as well. There are legitimate companies out there and some that were positioned well before the Foreclosure rate increase. Unfortunately, it’s those very companies that may be having difficulty staying a float.

The Better Business Bureau has reported an outrageous number of complaints placed on “Foreclosure rescue” companies. Some have resulted in litigation. What happens many times is a company or individual will collect monies before even knowing if or what you qualify for. Loss Mitigation is a viable service. However, there ABSOLUTELY must be an approval process. If they can collect your financial information and basic home information a legitimate company should be able to determine whether or not they can help you. This pre-approval stage should NOT require information such as signed authorizations, social security numbers and/or bank account and credit card information. Most legitimate companies will ensure they have checked if you qualify before proceeding with a contract.

In addition, there are some companies charging to provide a short sale. You should not be charged for an investor to negotiate a short sale with lender if they are finding the buyer or acquiring the property from you. A short sale specialist will receive considerable profits be it real estate commissions (if applicable), profit from selling property and/or profit from renting the property on the back end of a deal. If someone is charging you money for a short sale it should be nominal in nature. Any company or individual charging fees over $300 should be researched thoroughly. You are facing Foreclosure. You need what money you have to find a new place should you feel short sale is your last resort.

In my time in this industry I have stumbled upon quite a few companies and scams that have taken advantage of homeowners whom I have helped later. The problem is most of these companies eat up valuable time that a real company could have used helping them save their home or prevent Foreclosure. Unfortunately sometimes it can be too late. The most important thing, and I must stress this to every extreme, DO YOUR RESEARCH and investigate the company you are getting involved with. Try to go with a company that can provide you literature or a website with an actual company name that you can research via the internet or with the Better Business Bureau.

Foreclosure is a scary thing but don’t get sucked in by companies offering a rescue without doing your due dilligence. There are plenty of legitimate companies out there like Freedom Foreclosure Prevention Services that can and want to help. For every ONE of those there are THREE more that are scams. Recently a company called FAS - Foreclosure Assistance Solutions took $1,200 from an unsuspecting homeowner in Columbus, Ohio.

There is a another company that sends out a postcard that appears to be official in nature. When homeowners call they are taken through a mini application and told little to nothing about what will “Really” occur and then they come in for the kill and get the homeowner’s bank information or debit card. The company has been known to call themselves the Fresh Start company and charges a flat fee for loss mitigation services. Their charge is $1,300 when last I heard and they seem to have call centers in Texas and Florida. They could have other locations and the information I have been able to obtain about this operation is little to nothing other than they collect this fee for $1,300 and don’t seem to do anything. There may be clients that have been helped by this company and I may not even have the correct company name. If you have any further information your comments would be appreciated.

In addition, if you have been taken advantage by a Foreclosure prevention company we want to know. It is important to understand that though you had a bad experience passing the information along would keep someone else from having one. There is always going to be someone that gets victimized that has a worse situation, ie more children, maybe less family to help…It is important to share your experiences so that others can learn and grow together. If you have been a victim of a Foreclosure scam please tell us about it by commenting on this article. Thank you for your participation and time. Save a family today!

http://www.cfreedomforeclosure.com

In recent news Realtytrac has come under fire for overstating the number of foreclosures. For example, last year Realtytrac based in Irvine CA was said to have reported the number of Colorado foreclosures to be close to 55,000 homeowners. In fact, housing divisions are reporting that the number is more like 29,000. Obviously this would create some confusion as the number of foreclosures reported by Realtytrac was almost twice what was actually filed according to government officials in Colorado.

In the same article a comment was made referencing that this number was misleading because it references the number of homeowners going into default rather than losing their homes due to Foreclosure.

I feel the need to say the number of foreclosures is disgustingly high regardless of whether the family went fully through the Foreclosure process or not. Many of these homeowners sought out help through loss mitigation companies, short sale companies, investors and some actually sold their homes. In 3 of the previous options the homeowner IS losing their home. Just because they were proactive in avoiding that actual Foreclosure filing does not mean we DON’T have a problem. The number of Foreclosure filings have skyrocketed and that can’t be hidden and shouldn’t be. There are more and more homeowners realizing that even if they can’t afford to stay in their homes there are other options that will allow them to prevent that inevitable Foreclosure filing.

I was disappointed at the representation in the article I read simply because I have helped the majority of my clients prevent Foreclosure and save their home or prevent Foreclosure and sell their home. These clients are still American Families that are having difficulties. This is the number that the government should be using. Americans are learning and educating themselves on the prevention of Foreclosure. Just because they are creative and intelligent to seek out help doesn’t mean they aren’t families that lost their home.

If you are facing Foreclosure don’t sit back and wait for the locks. Be proactive! No matter what your situation is you ALWAYS have options. Not all options are great but you should educate yourself on not only your state laws but your Foreclosure options as well. Each option has it’s own pros and cons. Nonetheless you owe it to yourself and your family to find out what those options are. Contact us today to learn more about your options.
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