You can avoid foreclosure scams in Louisville Kentucky by understanding how the foreclosure counseling process works and knowing where to go and what to do if you are facing a foreclosure. Financial struggles and the inability to pay your mortgage are stressful and oftentimes you may feel there are no options for your situation. Rest assured there are many options to help you avoid falling victim to a foreclosure scam. Here are five tips to avoid foreclosure scams.

1. Promises That are Too Good to be True

If the deal that the company or representative is offering you sounds too good to be true, it probably is. Trust your instinct and do not conduct business with that company or representative. Always report suspicious foreclosure rescue schemes to the proper authorities including consumer protection agencies. Get the word out about the foreclosure scam in Louisville KY.

2. Understand the Foreclosure Process to Avoid Foreclosure Scams

When working with a service to assist you through a foreclosure, be wary of any company or representative that guarantees they can stop foreclosure proceedings already in progress. The foreclosure process does not work that way. Avoid foreclosure scams by understanding that foreclosure counseling services do not make a foreclosure go away. Instead, they work with your lenders, analyze your budget, and help both parties come to a reasonable mortgage payment plan that satisfies everyone. In the end, you get to keep your Louisville home and the lender still gets paid.

3. Always Read Everything Before You Sign

Foreclosure scam artists may use high pressure sales and fear tactics to get you to sign paperwork. They take advantage of the desperate financial situation that homeowners are in at the moment. Always read every document presented to you. If the company or representative does not provide any documentation, this should be a huge red flag. Ask questions; if your questions are not answered, do not sign anything until you consult with an attorney.

4. Foreclosure Counseling is Free (or Low Cost)

Never pay a company or representative large amounts of money. Scam artists will charge hundreds or thousands of dollars to fix your foreclosure issues. Avoid foreclosure scams that ask for large amounts of money up-front. The most reputable foreclosure counseling service companies are no-cost or low-cost counseling because they work through and are funded by the Department of Housing and Urban Development (HUD) in partnership with the federal government.

5. Work with a HUD Approved Counselor to Avoid Foreclosure Scams

Start your search for a reputable foreclosure counseling service by using the Department of Housing and Urban Development (HUD) website for a listing of nonprofit, approved agencies. If you did not start your search on the HUD website, be sure to check that the service you selected is listed on the HUD website.

These tips are helpful in making sure you don’t fall victim to a foreclosure scam. But did you know you can avoid foreclosure scams altogether by stopping a foreclosure from happening in the first place? The best way to stop a foreclosure in Louisville KY is by selling your house before the house goes into foreclosure – a pre-foreclosure sale. A real estate investment company can buy your house quickly and for cash without fees or commission costs. You do not need to complete any repairs. A real estate investment company is your best option to sell your Louisville home if you are facing a foreclosure.

Want to learn more about how you can avoid foreclosure scams and sell a house in Louisville fast for cash? Contact SnH Homes today to learn more.