Checklist Checklist

Tag: MORTGAGE FORECLOSURE HELP

  • #44 MORTGAGE FORECLOSURE HELP Buyer Checklist You Need To Know Before You Spend Your Money. 60 Buyer-Beware Intelligence Points.

    Legal Information Notice: This checklist provides general educational information only. It is not legal advice, does not create an attorney-client relationship, and may not apply to your jurisdiction or circumstances. Laws and deadlines vary. Do not rely on this checklist for a specific legal decision or deadline; consult a qualified attorney licensed in the relevant jurisdiction.

    1. “Foreclosure help” can describe legitimate professional services or scams.
    2. Verify exactly who is offering assistance.
    3. A government-sounding name does not prove government affiliation.
    4. Do not pay someone merely for promising to communicate with your lender.
    5. Never assume a modification is guaranteed.
    6. A lower payment can involve a longer repayment period.
    7. Delayed payments can sometimes be added to the loan.
    8. Interest can continue accumulating.
    9. Fees may be added.
    10. Escrow changes can alter future payments.
    11. A temporary forbearance is not necessarily forgiveness.
    12. You may still owe deferred amounts.
    13. Loan modification documents must be read carefully.
    14. Never sign incomplete documents.
    15. Keep copies of everything submitted.
    16. Verify all communications with the actual servicer.
    17. Don’t transfer title to someone simply because they promise to save the property.
    18. Don’t send mortgage payments to an unverified third party.
    19. Don’t ignore foreclosure notices while pursuing assistance.
    20. A legitimate professional should explain the limits of what they can accomplish.
    21. Lawyers, housing counselors and other professionals may perform different functions.
    22. Compare the cost of assistance with the value of the proposed service.
    23. Ask what happens if the lender rejects the proposal.
    24. Ask what happens if the foreclosure deadline arrives before a solution is reached.
    25. The most important question is “What exactly am I paying this company to do?”

    B. PREMIUM BUYER CHECKLIST

    PROVIDER

    ☐ Legal name
    ☐ Physical/contact information
    ☐ Licensing/credentials where applicable
    ☐ Complaint history where available
    ☐ Written contract
    ☐ Fee structure
    ☐ Refund/cancellation terms

    MORTGAGE

    ☐ Current balance
    ☐ Interest rate
    ☐ Payment
    ☐ Arrears
    ☐ Escrow
    ☐ Notice status
    ☐ Foreclosure status

    PROPOSED SOLUTION

    ☐ Modification
    ☐ Forbearance
    ☐ Reinstatement
    ☐ Refinance
    ☐ Sale
    ☐ Short sale
    ☐ Other

    DOCUMENTS

    ☐ Mortgage statement
    ☐ Loan documents
    ☐ Notices
    ☐ Payment history
    ☐ Income documentation
    ☐ Expense documentation
    ☐ Prior modification documents

    RED FLAGS

    ☐ Guaranteed result
    ☐ Large upfront fee
    ☐ Pressure to sign immediately
    ☐ Request to stop paying lender without clear basis
    ☐ Request to transfer property title
    ☐ Refusal to provide written terms
    ☐ Fake government affiliation

    FINAL QUESTION

    If this company disappears tomorrow, what actual legal or financial progress have I made?