KKTV - Blogs - Betty

Beware of Foreclosure Wolves

Recently, I've been getting a lot of calls from viewers who are making poor decisions when it comes to their most important asset, their home. And no wonder, national statistics show one in every 355 homes is in the foreclosure process. With foreclosures up 32% it's no wonder the scam artists are out in full force. Make sure you talk to qualified, trustworthy experts to get the best advice if you're behind on your mortgage payments. You can't afford to lose this game.

 

 

 

If you're in serious financial trouble and face losing your home, put on your game face and get educated. You can get expert advice for free from the Pikes Peak Foreclosure Prevention Partnership. The hotline is (719) 444-8833. Don't be afraid to call the Public Trustee's Office, too. In El Paso County, Tom Mowle and his deputies know foreclosure up, down, inside out, and sideways. The number is (719) 520-6780.

The biggest mistake I see homeowners make... they ignore the reality of their situation, waiting till the last minute to talk to their mortgage lender. The sooner you act, the better your situation. The worst thing you can do is bury your head in the sand and then take the advice of a slick stranger who knocks on your door. The law requires foreclosure information to be posted online... so the wolves look it all up and then set off to find uneducated homeowners. Many act like wolves who knock on doors, lend a sympthetic ear, and then act in their own best interests... not yours. It's much like the wolf in Little Red Riding Hood. Any investor who claims they can "solve all your problems" is a liar. Don't believe them just because you want to think they can make your problems vanish.

Also be careful if you're going through a divorce or separation. If you and your spouse's names are on a property, you're both on the hook... no matter who is or isn't paying the mortage.

Other big scams include the crooks who claims they can put together a loan modification for you... do a short sale or refinance your loan. Remember, these are complicated procedures and you need to make sure you're in good hands. Head to the Better Business Bureau of Southern Colorado for background checks on companies.  The number is (719) 636-5076.  Also, feel free to call me. I'll be happy to help steer you in the right direction... away from the predatory wolves.

 

 

 

 

 

 

Read More Blogs

KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.

If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.

powered by Disqus
KKTV 520 E. Colorado Colorado Springs, CO 80903 Office: (719) 634-2844 Fax: (719) 632-0808 News Fax: (719) 634-3741
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability