When you can't make your mortgage payments, your lender could begin sending you foreclosure notices. Because you haven't paid your loan as agreed, your Ohio lender can threaten to take possession of your home, evict you and sell the property to recoup the loan.
The minute you figure out that you can't make your mortgage payment, you should call your lender to try to make alternate payment arrangements or work out a payment plan. You might feel embarrassed to make that call. Don't be. You aren't the only one in this position, and a few minutes of discomfort is way better than receiving foreclosure notices.
If you are facing foreclosure, word does get out about it. Lists of homes that are in pre-foreclosure or foreclosure are available, and they sometimes fall into the wrong hands: scammers. They will promise to help you keep your home out for foreclosure, but, often, it is just a scam. They might contact you directly or you could see an ad online.
Their tactics could include:
- Making an offer to negotiate with your lender or assist you with refinancing
- Telling you that they can help you halt the foreclosure by assisting you to file for bankruptcy
- Offering to perform a forensic mortgage loan audit
So what should you do?
Well, the solution to getting out of foreclosure trouble isn't solved in an instant. Don't fall for seemingly well-intentioned companies that tell you that they can help without due diligence. Until then, don't give a check for a mortgage payment to anyone but your mortgage holder, don't sign any documents without having an attorney review them and don't give anyone your personal information.
To be certain the advice you are receiving is legitimate, contact an Ohio attorney experienced in foreclosure cases for assistance and guidance. Saving your home is worth the effort.