Foreclosure prevention counseling services are offered by the U.S. Department of Housing and Urban Development. These services are funded by the federal government and are offered free of charge by nonprofit housing agencies located throughout the Denver Metro Area. Because they are non-profit and funded by the government their time is limited. Please be respectful of this when meeting with them. This program is designed to help those who are willing to do whatever it takes to save their home! Be prepared when you meet, and take action when done.
—> It’s Your choice to pay a private company for or seek FREE help from HUD <—
HUD Counselors provide struggling homeowners with the information and assistance necessary to avoid foreclosure. They offer a variety of services under the Making Home Affordable Program and can help you qualify for the 90-day foreclosure deferment. If you are eligible for a loan modification or refinance program, these counselors can help you compile an intake package for your servicer. However, they do not have the time to do everything for you. Remember, saving your home is up to you! Use HUD Counselors as a resource while you put in the effort to save your home.
To locate a HUD-approved counselor in your area and to find out more information about these free services visit HUD. For a list of HUD-approved counselors recently evaluated by The Hightower Team please contact us.
Beware of Foreclosure Rescue Scams
Foreclosure and loan modification scams are a growing problem. Distressed homeowners must protect themselves to avoid losing hard earned money or home to a potential scammer. Scammers will typically make attractive promises that they do not intend to keep, such as guarantees to SAVE your home or substantially reduce your monthly mortgage payment. In return they will often charge a fee. Scammers may pretend they have direct contact with your mortgage servicer when they actually do not.
Remember, foreclosure avoidance counseling is free and funded by the U.S. Department of Housing and Urban Development (HUD). These nonprofit housing counselors are a great resource and can help you remain in control of your situation. But this doesn’t mean all loan modification companies that charge a fee are scammer. The Hightower Team can provide you with a list of HUD Counselors offering FREE counseling to our clients, or Loan Modification companies that charge for their services. The choice is yours.
Tips to Avoid Foreclosure Scams
- Be cautious of any person or organization who asks you to pay a fee in exchange for a counseling service or modification of a delinquent loan. KNOW WHEN TO WALK AWAY!
- Scam artists often target homeowners who are struggling to meet their mortgage commitment or those anxious to sell their homes. Recognize and avoid all common foreclosure rescue and mortgage modification scams. Go with what you feel.
- Beware of people who pressure you to sign papers immediately or who try to convince you that they can save your home if you sign or transfer over the deed to your house.
- NEVER sign over the deed to your property to any organization or individual unless you are working directly with your mortgage company to forgive your debt.
- Never make a mortgage payment to anyone other than your mortgage company, unless your mortgage company gives you an approval.
- Remember, you are always in control and do not have to agree to anything that doesn’t feel right.
What to Do if You Have Been the Victim of a Scam?
If you feel you have been a victim of a foreclosure scam, you should file a complaint with the Federal Trade Commission (FTC). Visit the FTC online or call 1-877-382-4357 for assistance.
The Financial Fraud Enforcement Task Force maintains a wide list of resources and information dedicated to helping find and report suspected cases of financial fraud. Visit StopFraud.gov.
