You are facing a foreclosure.
The loss of your home.
Where will you move?
What will you do?
You get a letter from a loan modification company or an out of state lawfirm saying they can “guarantee” you that your loan will be modified and the foreclosure will stop.
This is code for “I’m going to steal your money and you will lose your home.”
“But they seem very nice on the phone and they tell me how many homes they have saved — they seem very sincere.”
Well, con artists by definition are charming and sincere and really good, right?
Here’s the truth.
No one can guarantee that a foreclosure will be stopped and that you will get a loan modification. Now there are things that can be done to adjust the odds in the right circumstances. But no guarantees.
So how do you know if who you are dealing with is legit or bogus?
How to Know if Modification Company is Legitimate?
Here’s a short list:
1. Do they explain how they get results?
2. Do they have an actual website?
3. Do they have an actual physical location — and no, a UPS store mailbox doesn’t count. Look it up on Google Maps/Satellite view to see if it is a real office.
4. Do they have books or videos for you to watch or read? Materials that has actual substance instead of just marketing hype?
5. If they are going to be doing legal work, are they actually lawyers? Or do they say “We have a relationship with a lawyer” which again is code for “We are going to steal you blind.”
6. If they have law degrees, are they licensed in Alabama? Or is this the typical California or Florida licensed lawyers (perhaps) who have no right to practice in or advise any clients in Alabama.
7. Do you get a good feel from them or are they pressuring you to “buy right now!!” from them?
Use your own good judgment and make sure before you hire someone that you feel good about the decision.
What Do You Do Now?
If you are facing foreclosure, you need Action. And lots of it.
Doing nothing will get you foreclosed.
So definitely Action is needed.
But make sure the action you are taking is the right action and you have good advice.
If you live in Alabama, a great place to start is our comprehensive (some think it is too comprehensive but that’s ok) Four Video Series On Saving Your Home From An Alabama Foreclosure.
Only go there if you are willing to take massive action — you will learn a lot and then you can take action.
Or give us a call if you live in Alabama — our phone is 205-879-2447 and we can see if we can help you.
Best wishes and be careful!