SellingNorthernNV

Josh Talayka | May 26, 2010

Scammers and con-artists tend to make a living by taking advantage of people who are vulnerable. So it’s no surprise that with the number of people facing foreclosure, that we are seeing more and more scams that promise to rescue you from foreclosure.

Now this doesn’t mean that every person or company that offers to help you avoid foreclosure is running a scam, because there are many legitimate consumer financial counseling agencies out there that can help you work with your lender. You just have to be carful when trying to distinguish between the two. If someone offers to help negotiate a loan modification between you and your lender, or work to stop or delay a foreclosure for a fee, you will want to carefully check his or her credentials and watch out for the warning signs of a scam. In most cases, the immediate red flag to look for is whether or not they are requiring a substantial up front fee.

Here are some examples on some of the types of scams to be aware of, and what you can do to make sure you do not become another victim:

Category: Financing/Mortgage Topics, Loan Modification Series, Short Sale & Foreclosures | No Comments »
Tags: Chase International, Default, Foreclosure, fraud, home retention, Homeowners Assistance Program, Loan Modification, loss mitigation, Nevada, NV, Real Estate, reno, scam, Talayka, www.sellinghomesinreno.com, www.sellingnorthernnv.com

Josh Talayka | June 1, 2009

Everyday more and more Americans are at risk of becoming default on their mortgage, and simply do not know what they can do. You’ve tried contacting your lender via the (800) numbers on your bill to explain that you are not going to be able to make your payments for much longer, and want to know if there is any help. Instead of getting help, you found yourself in an endless loop on their automated system. Eventually (if you’re lucky) you were able to reach a live person who then transferred you to another, who transferred you to another, and so on, while remaining on hold for twenty plus minutes between each person. Finally, the last person you speak with tells you there is nothing they can do, and that you should try back once you’re behind.

here are some things you should know before going down that road.

Under the federal “HOPE Now” program approved in October 2007, you are not eligible for a loan modification until you are 90 days late on every one of your bill

Don’t mistake a foreclosure with forgiveness of debt.

A short sale is when a homeowner sells his house for less then what is owed, and has the difference forgiven.

Category: Loan Modification Series, Northern Nevada, Short Sale & Foreclosures | No Comments »
Tags: Default, deficiency judgment, Foreclosure, home retention, Loan Modification, loss mitigation, mortgage, Nevada, Real Estate, short sale