5 Tips to Protect Yourself from Loan Modification Scams.

Direct from the Office of Attorney General here are 5 tips to avoid being scammed by "Foreclosure Consultants". 1. Never pay up front fees!!  "Foreclosure Consultants" are prohibited by law from collecting money before services are performed. 2.  Beware of "Foreclosure Rescuers".  These people attempt to convince home owners they can stay in their homes as renters and buy their homes back later. Sometimes they are part of a fraudulent bankruptcy filing.  Either way if you transfer … [Read more...]

Where to File a Complaint if you have been a Victim of Real Estate Fraud?

Homeowners resources for Real Estate and Loan Modification Fraud: File a complaint with the California Attorney General's Office. 1800-952-5225 File a complaint with the Federal Trade Commission. If your complaint is against a real estate broker: Department of Real Estate. If your complaint is against an attorney: State Bar of California website. You may also wish to consider filing a Small Claims Court action. These are informal courts where disputes are resolved quickly and … [Read more...]

Putting your hardship letter to paper

The hardship letter for your short sale package can be quite difficult to write. That's understandable. You're working through a financial puzzle that's complex and emotional. Breaking the letter down into a simple format can be an easy answer: 1. Hardships: So, what are your current hardships? Unemployment, medical problems (personal or family), disability, divorce, death, relocation, or perhaps a rise in mortgage payments due to loan adjusting. Supporting documentation is helpful (for … [Read more...]

Short Sale Package: What you’ll need

1. Copies of the most recent mortgage statements. 2. Copies of your last two years' tax returns. 3. Copies of your most recent month's paycheck stubs (for you and your spouse). 4. Copies of your most recent bank account statements, covering 2 months. (Include all pages of the statements.) 5. A letter, written in your own words, outlining the facts associated with your financial distress. Be clear about the hardship that you got into the situation. Detail the steps you've taken to … [Read more...]

Federal resources for homeowners in distress

Everyone facing the loss of a home needs some help and solid advice. Here's how to get some from federal programs: What if I am unable to reach my mortgage company? Call the Homeowners HOPE Hotline at 1-888-995-HOPE (4673). Experienced counselors can help you consider the best plan of action for your financial situation. This is service is available for homeowners only. Realtors cannot call on behalf of their clients. May I speak to a counselor in person? Yes! County, federal, … [Read more...]