If you’re facing foreclosure or other mortgage-related stress in Las Vegas, you may also be a prime victim for loan modification scams.
To get a better sense of how this works, watch this FOX L.A. news clip on what happened to one family in the LA area.
In a nutshell, the family was in trouble. They met a nice guy in their church. He said he would help them by working with their mortgage company to renegotiate the terms of their loan. He told them to give their money to him. He would put it in a separate account, and he would use the money in that separate account to make payments. But as it turned out, he kept the money.
On top of that, he told the family not to make any more payments to the mortgage company. The mortgage company started sending notices to the family of late payment and foreclosure. The “church friend” told them not to worry about those notices. But of course, the family was eventually evicted from their home and had to sleep on the sidewalk out front.
We’ve emphasized to our readers in previous posts how important it is to work with someone you trust. The only way you should trust someone is if you know their background and history. Have they helped other people? Will they give you references? Are they giving you straight answers? If they’re not, it’s a red flag.
At the end of the video, you’ll see that the family is helped out by the community. People make donations, etc. However, most people who face foreclosure or are victims of scams do not get a TV news piece telling everyone their story.
If you’re considering loan modification, make sure to do it right. It’s a complicated process in which you’re negotiating against companies and people who deal with mortgages for a living. The most important decision you’ll make in the process is who will represent you.
If you need good bankruptcy attorneys in Las Vegas, the lawyers at Haines & Krieger have extensive experience with loan modification and foreclosure issues. And they also have a great reputation in the community for providing Las Vegas bankruptcy help and Las Vegas bankruptcy information. So if you’re worried about your mortgage and need help with loan modification, please contact us for a free consultation. We’ll explain all of your options and make sure you understand what’s involved.