As you may be aware, foreclosure scams have reached new highs in the last couple of years. When there’s an opportunity or individuals in agony, the world’s dishonest and unethical people tend to emerge from the shadows to prey on homeowners who don’t know any better. Thus, foreclosure scams happen.
Foreclosure scams in Dallas Fort Worth have even picked up in recent years.
We’ve been dealing with homeowners for quite some time, and we speak with foreclosure victims every week. You should hear some of the horror stories we’ve heard about folks in foreclosure being duped by con artists posing as trustworthy “real estate investors.”
Not All “We Buy Houses” Companies Are Created Equal
You’ve probably seen those “We Buy Houses Dallas Fort Worth” signs… or websites like ours that feature the term. Yes! We Buy Houses in Dallas Fort Worth. We’ll show you how to distinguish between potential foreclosure scams and reputable trusted house buyers in our area.
In a nutshell, there exist companies that acquire houses from people who need to sell them. In other cases, the similarities between foreclosure scam investors and trusted organizations like TMC Property Solutions end there.
We’ll go through some of the ways that a small number of people try to pull off a foreclosure scam and take advantage of homeowners like you in this post.
This is a “consumer awareness” guide to help you identify companies to avoid. This article will also help pinpoint “we buy houses” companies like TMC Property Solutions that you can trust. The vast majority of home buyers are great people with great integrity… it’s the few bad apples who ruin it for everyone else.
Some Tips & Warning Signs That You Might Be Getting Into A Dallas Fort Worth Foreclosure Scam
If you’re facing foreclosure and want to escape it by getting foreclosure help in Dallas Fort Worth, here are some “solutions” that some less than honest companies may offer and avoid foreclosure scams.
- Getting Mortgage Assistance From Your Lender By Charging Upfront Fees. As Fannie Mae puts it, “assistance is always free”. Some businesses will try to charge you to discuss your mortgage with your lender to find a solution. Don’t be fooled by this. You can chat with your lender about the mortgage and your options at any time for free. You can also deal with a company that will perform your loan counseling for you.
- Signing Over The Deed To Your House In Order To “Save” It. From the start, this appears to be backward. Some unscrupulous businesses may claim that signing over the deed to your home can save it. Never sign over the deed to your home unless you’re working with your mortgage company to get your debt forgiven… or unless you’re physically selling your home to that firm, as Fannie Mae advises. If this is the case, request that the corporation handle everything through a respected title company to ensure that everything is in order. Remember to always consult legal advice before ever signing over your deed.
- Don’t Unknowingly Give Up Ownership To Your Home. Scammers have taken advantage of homeowners by promising to pay off their mortgages. In the paperwork, the con artists hide clauses that give up your ownership rights to the house. There will be no hidden conditions and all information will be disclosed before any contracts are signed. As previously indicated, always contact your own expert before signing any paper, even if you are working with a reputable firm.
- Try to convince yourself that you don’t need a title company or other professionals to sell your home. Selling your home, whether you’re in foreclosure or merely need to sell quickly, requires the assistance of professional services. We always use a neutral 3rd party Title Company to handle the closing, drafting out the closing documents, and all related documentation for every house we buy. It gives the house seller confidence and ensures that nothing goes wrong on either side of the deal.
If a home buyer says you’re going to perform a “kitchen table closing” (signing all of the papers in your home rather than going to a title company or an attorney’s office) instead of traveling to a title company or an attorney’s office… inquire why. Closings at the kitchen table can work. However, using a title company or an attorney protects both parties and assures proper execution.
- The Mortgage Payment Scam. Some con artists urge homeowners to send their mortgage payments to them (rather than the bank), and the con artist will then “manage” paying the bank. You should not do this unless you have written permission from your mortgage company. Some of these con artists will keep your payments and not pay the mortgage company at all, damaging your credit and leaving you in a worse financial situation than before.
Do Your Homework And Do Business With Someone You Can Trust
Every week, we buy houses in Dallas Fort Worth, and assist homeowners who are facing foreclosure. As a result, we are well-versed in the market and have witnessed numerous instances of deception involving homeowners who were deceived by a scammer before contacting us.
We always tell our students to do their assignments. It is now easier than ever to research any firm by simply going to Google and typing in the individual’s or company’s name. Search for TMC Property Solutions to see what the rest of the world has to say about us. See also our BBB report and testimonials. Before doing business with any “We Buy Houses” organization, ask a lot of questions to ensure that they’re genuine, honest, capable of, and willing to follow through on any offer they make. Some investors make a number of bids and then cancel the ones they can’t afford to close. We only make offers on properties that we know we can close on if you accept our offer at TMC Property Solutions… no ifs, and, or buts.
If you’re in foreclosure and need assistance, or just want to learn more about your options, call TMC Property Solutions at (817) 550-5069 Opt# 4 and we shall assist you in the shortest time possible to sell your house and avoid foreclosure or prevent your house from getting underwater in Fort Worth and the surrounding cities. To fast-track, the process, simply fill out our short form to give us more information about you and we’ll be in touch with you and help you find the best solution! Avoid foreclosure scams and call us TODAY!
TMC Property Solutions is a Veteran owned business and has been helping families across the DFW Metroplex that work. We are an accredited business and A+ rated member of the Fort Worth BBB. We also recommend you Google TMC Property Solutions to see what others have to say about us and our services.
Please do reach out to us if you have any questions on anything HERE.
20+ years providing solutions for selling your house fast!