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Late Breaking News!
The Massachusetts Attorney General Martha Coakley has just enacted an
emergency
ban on foreclosure rescue schemes effective for 90 days from June 1,
2007 and likely to continue beyond. It is the State's attempt to stop
the unethical (and now illegal) practices that take advantage of
people, which are briefly described below.
This
is a link to a brief overview of the ban.
This links
to a more in depth discussion from the Attorney General's website.
This describes exactly the practices we warn people about. If you are
facing a foreclosure please contact us
right away so we can show you how you are affected by this ban.
Due
to the recent surge of foreclosure activity across the state,
Blackstone Valley Home Solutions has noticed a sharp rise in dishonest
real estate "professionals" who have been taking advantage of a
troubling situation. While there are honest hardworking professionals
out there, it is often very difficult to distinguish them from the
flood
of scam artists looking to make a quick buck. In response to this,
Blackstone Valley Home Solutions would like to offer you the following
foreclosure warning so that you can better
understand how these people operate.
Foreclosure Warning:
You have probably been approached, or
soon will be, by some
of the following people.
We would like you to consider the following synopses:
“Real
Estate Salespeople & Brokers” – These
people are especially interested in getting a listing. They are not
concerned
about you or your circumstances. They will benefit from your misfortune
and get
what they want most – a commission. That is, of course, if your house
does
indeed get sold. Brokers work on the numbers. If your house sells
before the
auction they win a commission;
if not, they have plenty of other
listings. In
short, they don’t care about you or your circumstances. They don’t
care if
your house sells or not. They will tell you what you want to hear, such
as
“should sell fast” and “will sell high enough to put money in your
pocket.”
They may sell it, but they don’t have the expert knowledge that
Blackstone
Valley Home Solutions Counselors have to sell your house.
“Attorneys” – These professionals are quick to
advise
a course of action that may not be in your best interest, namely
bankruptcy.
Whether it helps you or not, they will get paid and, once again, your
circumstance afterward is not their concern.
“Mortgage
brokers” – These people almost always
advise you to refinance for relief; however, it will be at a higher
rate of
interest and eventually you will actually be worse off. Most of the
time there
is no hope in helping you since your credit has already been “HIT” with
late
payments, but they will say that it doesn’t matter and it won’t cost
you
anything unless you actually get the loan. The problem is that very few
of
these loans will be approved, the foreclosure process marches forward,
and you
are hanging by a thread in the hope to get the refinance and not lose
the property.
In most cases you will either lose now to foreclosure or catch up
payments when
you get the loan, but then immediately fall behind again and be in the
same
predicament.
So-Called “Real Estate Investors”
– The majority of
these people are looking for a good deal for themselves and do not
consider
your options. They only care about themselves and what is in it for
them.
Beware: some will lend you money to “fix” the symptom of you problem,
but then they will be the
ones foreclosing on you. Yes, they tell you what you
want to hear, then they take advantage of you.
Although
the majority of the above practitioners are not
operating in your best interest, some are actually professional and
would be a
very wise choice for your situation. The problem then is determining
which are
legitimate
and which are not.
At
Blackstone Valley Home Solutions, our main role is to
offer financial consultation as to the best course of action for your
situation. If any of the above services becomes necessary, we can offer
all of these through our affiliates. They will act in a professional
manner on
your
behalf with your particular situation in mind.
We truly
can help to resolve your situation in the best and
fastest way possible.
DON’T MAKE A
MAJOR MISTAKE! Contact
Us
Today.
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