Today I was reminded of just how greedy some people can be in this economical environment. Many times, throughout a month I will receive a call from a homeowner in trouble with questions on the short sale process, the lending issues or simply just looking for a starting point to gather in the information they need to make an educated decision about their circumstances.
Every single short sale, foreclosure or stressed out homeowner is a different story, with different endings but they all have a lot of similarities. Before making the decision to sell your home for less than you owe the bank (that is what a short sale is) you really need to gather some information from; attorneys, tax professionals, lenders and REALTORS®. There are a lot of consequences that come with a short sale or foreclosure, many of them you would not even dream about.
If you have had a notice of default severed or recorded you are in the prime picking for scammers or people who come across as a hero for you. The Oregon Department of Jusctice has some great information regarding a lot of these scams. Educating yourself is the best thing you can do to protect yourself.
If you are in need of assistance with a short sale, I would be more than happy to discuss the market conditions, what to expect during a short sale, and some of the things to expect after a short sale, but you should still educate yourself and talk to an attorney.
The following Video is located on the Oregon Department of Justice Website, I felt it was an important piece of information – please do not fall victim to one of these “heroes.”