Industry Tips
Foreclosure consultants
When faced with financial difficulties, some people seek foreclosure consultants. The BBB urges you to explore every alternative to keeping your home and avoid falling victim to "easy" solutions. The BBB advises that your first call should be to your lender. Some lenders will set up a new payment plan to assist your financial situation. When you begin choosing a consultant be sure to ask for references and do not fall victim to high-pressure tactics, and if a solution sounds too simple or too good to be true, it probably is. Before making any payments or signing a contract the BBB suggests contacting a HUD approved counseling agency. You can reach the Cincinnati HUD office at (513)684-3451. You may also want to contact legal aid or the United Way. Be aware that there are other alternatives to selling your house to a foreclosure consultant and a HUD approved agency can determine your eligibility for these alternatives. Consider all your options BEFORE giving up your home and potentially damaging your credit. Before signing a contract, make sure you have all promises in writing and that you understand everything fully. Never sign a contract under pressure and never sign away the ownership of your property. Be wary of people that instruct you to not contact your attorney or mortgage company
