It's goes against accepted ethics, but there are those who prey upon the weak and desperate in today's housing market. If you find yourself upside down on your loan, facing default and foreclosure, then beware. There may be those lurking nearby, waiting for a chance to take advantage of your vulnerable situation. They could make away with more than just your money; they could walk away with your home.
If the company, or person, in question asks for an upfront fee, it's time to turn on your scam radar. No fees should be exchanged until a service is being rendered. Additionally, your mortgage company will not charge you a fee for counseling about your mortgage.
Do not respond to pressure to sign or to "move quickly." If a legitimate professional is truly interested in your property, they will have no issue waiting days or even weeks for you to make a decision. Never sign anything upon first meeting with someone.
Never sign anything without having a lawyer review it. There are numerous pro-bono lawyers in most areas that can look over your paperwork for free. Don't worry about insulting the company or person offering you a deal. If they are a true and honest professional, they will have no problem with you taking your time and exploring your options.
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