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Brett Henry
 Experienced Short Sale Negotiator
Simple Choice Real Estate

Phone: 801-228-1683
Email: brett@househelputah.com


Thank you for your help with our short sale. With the foreclosure sale date so close we were really worried we wouldn't be able to prevent our foreclosure. All your work and persistance paid off. We were able to prevent the foreclosure sale and now we can sleep again at night. Thank you again! Lelani Andersen
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Foreclosure scams


People in foreclosure are vulnerable. Think twice before embarking on a plan and think very long and hard before signing anything. The following statements in bold are common statements heard over the years by those in foreclosure.

1. We'll save your credit. Pay us a fee and sign the house over to us. The foreclosure will be recorded against us, not you.
The foreclosure will be reported against the borrowers on the note and possibly against others on the property title, not anyone else.

2. We'll give you some money, just sign the house over, we'll cure the default
There really isn't a problem with it, IF you know how much equity you are selling and IF the purchaser really will cure the default and IF the purchaser will really make the payments and IF you want to still be responsible for the loan. Too many IFs to be able to say this is either a good or bad option, just be careful with it.

3. We'll buy the property, lease it to you, you have the option to buy it back.
It might have happened, but the reality is, to buy it back you'll need a new loan that's larger than the loan you have with an interest rate greater than what you currently have. The payments will be higher and it's going to be very difficult to qualify.  Explore a small hard money loan if you have the equity or consider an open market sale, you'll probably end up with more money in your pocket.

4. We'll get you a new loan and solve all these difficulties.
Every time you refinance, unless you are paying fees out of pocket, your loan balance is going up which is using up your equity. Lenders can make a lot of money churning loans, you need to consider total loan amounts also, not just the monthly payments. Try to solve the problem, not just extend the time frame.

5. Stop Foreclosure with Bankruptcy
Bankruptcy does NOT STOP foreclosure. It puts a hold on foreclosure which can allow you time to reorganize your finances possibly allowing you to stop foreclosure. Every area has reputable attorneys who handle bankruptcies. Spend the time to find one and spend the time to know what you have to do and when. Mistakes, like missing filing dates, can cause things to get very bad very fast. Do you want it done right, or do you want it cheap?


Real Estate Scams

The most common scam happens either during or after the foreclosure. Person breaks in to a vacant house, changes the locks and then rents the property out. When a property is advertised at significantly below market rent, the phone number is voice mail and the meeting location isn't the property but a public place such as a restaurant or coffee shop, you really want to think carefully about what you are doing.

There is one person in this world who has your best interest at heart. It's you. You have to be careful, think about the services promised, and determine whether the promises are real or just another way of separating you from your money. Think, compare, research and you should be fine. Good Luck.


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