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from: Beware of Home Foreclosure ScammersWhen you are facing home foreclosure, it feels like you’re on a sinking ship. You are looking for any way to save your home and your credit. You must always be mindful that there are home foreclosure scammers just laying in wait to take advantage of your misfortune. You might ask: How can I tell a home foreclosure scammer from a legitimate buyer?
Home foreclosure scammers work in different ways. One scam is a person may approach you and tell you that he/she is associated with some religious organization, trying to gain your trust on the introduction alone. This scammer will ask you to sign over your home. Don’t ever sign your home over to anyone, because your home will no longer be your home and the scammer will find a legal way to evict you.
Never sign your home to anyone before you get paid for it. Don’t ever accept a promise to pay, make sure you have the money before you sign your home over to anyone. Home foreclosure scammers come in all shapes and sizes, male and female. He/she may appear to be sympathetic to your dilemma and offer help. The scammer asks you to sign over the house and you agree to move out. The plan as you know it is that the home will be sold and you will walk away with your debt paid, and your dignity and credit intact; but instead you lost your home and you still own the debt.
Beware of counseling agencies that charge a fee to lower your house payment. Often these agencies do very little to help your situation. They take your money and do basically nothing. Before you spend money on a counselor, that may be nothing more than a home foreclosure scammer, contact a counseling agency through HUD. You can call them toll free at 1-800-569-4287.
Beware of anyone that offers to rescue you from foreclosure. The person will ask you to put his/her name onto your deed, so they can give you a loan and put a lien on your property. The plan is that you will pay off the rescue loan and have your property back in your name only when the debt is paid. This is how many people end up with their homes foreclosed on anyway, because the interest on the loan is so high, you may be paying payments higher than the original mortgage loan you were paying. If you default on this loan the home foreclosure scammer can then get a court order to have you evicted from your property.
To avoid being taken advantage of by a home foreclosure scammer, be sure to only deal with reputable companies that have been in business a long time. Beware of anyone that approaches you unsolicited; this should be a red flag that this may be a home foreclosure scammer.
Utah Home Foreclosure Specific links
Utah Home Foreclosure News
Utah Senator Forced to 'Short Sell' His House - Reuters
Utah Senator Forced to 'Short Sell' His House Reuters Utah Sen. Mike Lee was forced to sell his home in a short sale, resulting in a $400000 loss, The Salt Lake Tribune reports. "It's not fun," Lee told the Tribune. "But you do what you have to do when income doesn't match your outlays. |
Utah foreclosure rate holds steady at No. 7 in US - BusinessWeek
 UPI.com | Utah foreclosure rate holds steady at No. 7 in US BusinessWeek Utah's foreclosure rate is holding steady at seventh in the nation after activity dropped 1 percent between March and April, and 21 percent year-over-year. Data released Thursday by RealtyTrac Inc. shows one in 419 Utah housing units saw a foreclosure ... Foreclosures Reach Lowest Level Since 2007 Foreclosures hit pre-recession level Foreclosures Reach 5-Year Low |
Report: Foreclosure filings slow in Utah, US - Salt Lake Tribune
 ABC News | Report: Foreclosure filings slow in Utah, US Salt Lake Tribune Foreclosure activity in Utah has fallen sharply over the past year, a new report shows. The number of foreclosure-related filings — ranging from notices that a homeowner is behind on a mortgage to repossession by a bank — fell by 21 percent from ... Utah foreclosure rate holds steady at No. 7 in US Foreclosures Move Downtown Foreclosures Reach 5-Year Low |
Senator's Mortgage Trouble Highlights Positive Housing Trend - AOL Real Estate (blog)
Senator's Mortgage Trouble Highlights Positive Housing Trend AOL Real Estate (blog) Utah Sen. Mike Lee recently sold his Alpine, Utah, home in a short sale, offloading the luxury residence for a price less than the amount of his mortgage, The Salt Lake Tribune recently reported. The transaction likely caused his lender, JPMorgan Chase ... |
Deo Buddhu Accused Of Mortgage Scam Promising False Federal Aid - Huffington Post
Deo Buddhu Accused Of Mortgage Scam Promising False Federal Aid Huffington Post A bunch of homeowners in one state are facing foreclosure and they say it's the fault of one man. At least six homeowners are accusing Deowraj "Deo" Buddhu of Weathersfield, Connecticut of running a mortgage scam that's threatened them with foreclosure ... |