Over the previous 5 years, foreclosures have been at record highs. When there’s an opportunity or when individuals are in distress… The deceptive and unscrupulous people in the world tend to emerge from the shadows to prey on homeowners who aren’t aware of any better.
In recent years, foreclosure frauds in Houston have increased.
We’ve been working with homeowners for a long time, and we talk to them every week with one of our clients. You should hear some of the stories we’ve heard about individuals who were taken advantage of by phony “real estate investors” claiming to be respectable.
Not All “We Buy Houses” Companies Are Created Equal
You’ve undoubtedly seen those “We Buy Houses Houston” advertisements or similar sites that use the phrase. Yes, we buy houses in Houston, and I’ll show you how to tell whether a company is a fraud or not.
As a brief summary, there are firms that buy residences from individuals who want to sell. However, in some situations… the similarities between con artists and reputable businesses with stellar reputations like ours come to an end.
In this post, I’ll show you some of the methods that a small number of individuals attempt to exploit homeowners like you. Be on the lookout for foreclosure scams like these in Houston.
This is intended to be a “consumer awareness” guide to help you identify the firms to avoid and the “we buy houses” firms that you can trust (because the majority of home buyers are decent people with good integrity… it’s those few rotten apples that ruin it for everyone else.)
Some Tips and Warning Signs That You May Be Stepping Into A Scam When In Foreclosure
If you’re in foreclosure and searching for a way to avoid foreclosure, these are some “solutions” less-than-honest businesses may try to sell you.
Charge Upfront Fees To Get Mortgage Assistance From Your Lender
Help is free, according to Fannie Mae. Some businesses will try to charge you for discussing your mortgage with your lender in order to solve the problem. Don’t be fooled by this. You may speak with your lender about the mortgage and your alternatives at no cost any time, or engage a firm that will help you through loan counseling at no additional cost.
Signing Over The Deed To Your Home To “Save” Your House
This appears to go against what you’ve just said. Some shady businesses may try to persuade you that signing over the deed to your home (giving up ownership) will help you preserve it. Never sign over the deed to your house unless you’re working with your mortgage company to forgive your debt… or unless you’re physically selling it to them. If this is the case, urge the firm to work with a good title company so everything is aboveboard (always get legal advice before ever giving away control of your property).
Don’t Unknowingly Give Up Ownership To Your Home
Scammers have attempted to deceive home owners by claiming that they will pay off their mortgage. These scammers insert hidden phrases in the paperwork, sometimes giving up your house ownership rights and transferring them to the scammers. A trustworthy business will be completely upfront with no hidden clauses and everything will be made clear before any papers are signed. However, as previously stated, always check anything you’re signing with a professional… except when dealing with a highly regarded business… just to make sure “i”s are dotted and “t”s crossed.
Try To Say You Don’t Need A Title Company or Other Professionals In Selling Your Home
If you’re in foreclosure or simply need to sell your house quickly, certain professional services should be utilized. We always utilize a neutral 3rd party Title Company to handle the closing, drafting up the closing documents, and all related documentation when we acquire a property.
A homebuyer isn’t as savvy about real estate as a seasoned seller, and they just want to get it done. A house buyer may see this in your advertisement because we live in an era when the seller is entwined with the buyer from a marketing standpoint. Those buying houses are eager to wrap up things so that they can move on, and I believe that’s why many of them quote you a lowball price for the home: to wrap things up quickly and move on.
As a general rule, unless you’re experienced in real estate sales, always utilize the services of a real estate professional with extensive experience in your market area when selling any property… especially your home. Home is where the heart is, after all.
The Mortgage Payment Scam
Scammers have used a tactic where they instruct the homeowner to pay mortgage payments to them (rather than the bank directly) and the scammer will then “handle paying the bank.” In no instance should you do this unless you get your lender’s written permission. Some of these scammers will take your money and not pay your lender, damaging your credit and putting you in a worse position than before…
Do Your Homework And Do Business With Someone You Can Trust
Every week, we assist individuals in foreclosure in Houston. As a result, we know the market well and have seen numerous unscrupulous things happen to home owners who were taken advantage of by a con artist before they discovered us.
We always advise our consumers to do their research. Before you do business with any “we buy houses” firm, ask them a lot of questions to ensure that they’re genuine, honest, and able to follow through on any offer they make you. Some investors make a lot of offers before backing out on the ones they can’t afford to complete. We only provide proposals for properties we are confident in closing if our offer is accepted… there are no ifs, and’s, or buts about it.
If you’re in foreclosure and need assistance, or just want to learn more… Visit your local foreclosure counseling business or go through this site to book a free Foreclosure Prevention session with one of our experts. We’d be delighted to talk with you about selling your house quickly… understand your situation and home… and make you a fair all-cash offer within 24 hours of our conversation. We can complete the transaction in as little as 7 days.
The beauty of it all is that we’ll give you an offer and there are no strings attached, no pressure, and no catches… you receive the offer, take as much time as you like to consider it over, convey it to those you trust, even shop the deal around to other “we buy houses” companies if desired. We’ll be here for you every step of the way.
If you’d like a fair no-obligation offer today… go here and fill out the short form. After that we’ll give you a quick call, find out a bit more about the property, and make you an offer the same day.
Over the previous 5 years, foreclosures have been at record highs. When there’s an opportunity or when individuals are in distress… The deceptive and unscrupulous people in the world tend to emerge from the shadows to prey on homeowners who aren’t aware of any better.
In recent years, foreclosure frauds in Houston have increased.
We’ve been working with homeowners for a long time, and we talk to them every week with one of our clients. You should hear some of the stories we’ve heard about individuals who were taken advantage of by phony “real estate investors” claiming to be respectable.
Click on sell my house quickly to learn more about how we buy houses fast for cash.