Be on the lookout for possible foreclosure scams in the Bronx

| Mar 28, 2021 | Residential Real Estate

Many people facing a hard time with their financial affairs fear losing their homes to foreclosure. Help is available for such individuals, but they risk falling prey to foreclosure scams. Unfortunately, a great many nefarious individuals or so-called agencies stand ready to bilk you out of your money and perhaps even your home.

It’s wise to seek assistance from a residential real estate attorney to resolve your foreclosure problems. A legal professional can help you avoid foreclosure without risking your home to fraudulent foreclose relief scams.

What are some signs of foreclosure scams?

Foreclosure and other scams can take many forms. Fortunately, most scams have several warning signs in common. If you see any of the warning signs discussed below, you should probably look elsewhere for help.

  • Making a guarantee that they can stop foreclosure in its tracks
  • Requiring you to pay fees and other costs before providing you with any services
  • Telling you that they will pay your mortgage payments on your behalf (they take your money for themselves)
  • Promising that they can find mistakes in your loan documentation that will force your lender to change or cancel your mortgage loan

Asking you to sign over the deed to your property temporarily to avoid foreclosure

These types of scams arise frequently in the Bronx and other areas of New York. Instead of risking everything on a flimsy promise made by a phony organization, it is wiser to use the law to address your current financial situation. A reputable and experienced residential real estate law firm can work with you to solve your problems and perhaps help you keep your family home.