Athens, GA Homeowners in distress - don't get scammed, foreclosure prevention fraud is rising!
| Be Wary & Aware! Some banks and mortgage companies send out legitimate "loss mitigation consultants" to knock on your door (especially if you don't take the phone calls from collections department personnel) who are able to assist you with modifying your existing mortgage or making alternative plans like attempting a real estate short sale. However, it is critical that you verify with your mortgage company or bank that this is truly their representative. Once of the best ways to do this is to call the customer service number of the company that holds your mortgage and ask for the loss mitigation department. Take a look a the video below, so that you will understand how these scams work and how to avoid having your house stolen from you through mortgage fraud. If you are facing financial hardship, and may be facing foreclosure, it is better for you to be proactive - call your mortgage lender today to discuss your modification options, or call a Real Estate broker who specializes in Athens, GA area short sales today. Please be careful when someone approaches you about preventing a foreclosure, especially if they "promise" to rent or sale the home back to you!
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Posted by Michelle DeRepentigny at 10/16/2009 2:11 AM 
Categories: Money Matters,Foreclosure Prevention,Short Sales
Tags: athens ga real estate mortgage fraud short sales foreclosure prevention
Categories: Money Matters,Foreclosure Prevention,Short Sales
Tags: athens ga real estate mortgage fraud short sales foreclosure prevention
There are some interesting heat maps that can be used to compare various areas of Metro Athens, GA based on Real Estate Price, School Quality and Unemployment Levels at http://www.athens-home.com
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I really think the mortgage brokers are to blame for what has happened. I know a few of them and they told me they make as much money as they can off every loan they write, regardless if its good for the borrower or not. They talk people into loans they can't afford. Easy to tell who is the crook. The borker tells the apraiser "I need this amount to make the loan work". I think that shows who's doing what.
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I work as a loan officer, and I am surprised at how people don't think borrowing hundreds of thousands requires some sort of education. There's lots of sites that have plenty of info.
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