Home Ownership Center - What to Watch Out For

It’s difficult to know who to trust – or even who to talk to -- when seeking advice about your mortgage or potential foreclosure. Working to stay in your home is a very personal issue and you don’t want to trust just anyone. Unfortunately, there are companies out there who look to take advantage of home owners in these difficult times, always promising a solution but ultimately making the problem even worse.

Watch out for the following warning signs:

		Calls offering you buyback or lease-to-own options
		Offers to provide "Walk-Away" services
		Requests for your social security number
		Counseling that requires fees for services
		Offers for quick and easy fixes
		Requests to sign binding contracts - including Power of Attorney - from sources other than your mortgage lender or your Foreclosure Counselor.

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Our counselors will answer your questions within 24 to 48 hours.

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FEES FOR LOAN MODIFICATIONS

The Minnesota Home Ownership Center has published a fact sheet that warns consumers about for-profit loan modification companies.

There have been numerous reports of homeowners paying large fees without realizing meaningful results... and the number is growing in Minnesota.

(PDF Document - Adobe Acrobat Reader Required)

Home owners can avoid potential foreclosure scams by working with the Minnesota Home Ownership Center’s network of Housing (Foreclosure) Counselors. The Center and our network of counselors at 24 non-profit partners throughout Minnesota are recognized by the Department of Housing and Urban Development (HUD) for their high quality and dedicated service, and their help is absolutely free.

Protect your mortgage and your family –
don’t get caught the trap of a predatory lender.
Call (866) 462-6466 or click here to get connected with a
free, trusted counselor in your community.