Beware of Foreclosure Wolves

If you're behind on your mortgage payments... don't stick your head in the sand.. and ignore the reality of your situation. Now's the time to arm yourself with valuable information.
If you don't ... the hairs on the back of your neck should be standing up because the wolves will come out to prey.
Every Wednesday during public auctions, El Paso County Public Trustee Tom Mowle lets the public know which properties are available. Folks often bid ... competing against the bank and others to try and buy distressed properties.
But this doesn't happen quickly. Homeowners don't waltz into foreclosure. It's a lengthy process which often gives them time to rectify their situations.
So #1: Don't wait! Talk to your mortgage lender. Find out your options. Also call on the Pikes Peak Foreclosure Prevention Partnership or dial the Public Trustee's Office and Tom Mowle or one of his deputies can help you.
Just as important... Don't believe everything an "investor" says. Reputable counselors have offices and office numbers. They don't just walk around neighborhoods, knocking on doors... hoping to catch desperate homeowners and give them advice.
I've seen too many cases where homeowners in trouble were easy pickings for an investor wolf... whose only goal was lining his or her own pockets.
Also be careful if you're going through a divorce or separation. If you and your spouses names are on a property you're both on the hook... whether you like it or not.
Don't act like little red riding hood, beware of the big, bad wolf!
For more information go to Betty's Buzz and look for "Beware of Foreclosure Wolves."


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