Comment posted Are The Companies That Advertise About Stopping Home Foreclosures Really Worth Looking Into? by A D.

You have to be VERY careful in dealing with companies that are making these offers. Especially on the internet. Most of these have turned out to be scams.
Do NOT sign any papers turning your property over to anyone.
Your friend should try contacting her lender’s loss mitigation division. The lender may have another name for the department that she should contact.
If you think you may soon be in the same situation, you may want to begin exploring your options now.
You may have some local, reputable sources for help. A credit counseling company, a lawyer who handles bankruptcy cases. Legal aid? Look locally before you and your friend take on the internet to try and find relief.
Good luck

A D also commented

• under NO circumstances. IF you need help, get hold of me
  and I will tutor you for free
• I am speaking from experience when I say this- talk to your lender first. Believe it or not they’re not bad people. I had a renter gone bad and put me behind nearly two months. They were able to set up a repayment plan. It doesn’t work for some but if you want to keep your home, its worth the hassle for a little while. I am in the process of modifying my mortgage– I refused to go through someone considering what they do I can pretty much do on my own.
  Call the bank first– they don’t want your home!!! They’ll help you.
• The companies are of SOME help, but only if you do not feel to qualified to speak with your lender on your own. These companies cannot STOP a home foreclosure, but they can assist in negotiating with your lender for more favorable terms, loan extensions, etc. You can do the same by yourself for free.
  The decision whether or not to foreclose always remains with the lender (unless some law is enacted which might put a temporary moratorium on foreclosures)

Recent comments by A D

• What Does Pld: Notice Of Filing Commitment For Owners Policy Of Title Insurance Mean In A Foreclosure Docket?
  Sounds like they have a buyer and are working on the title insurance and the committment it needs to be issued.
• I Was Told That My Rental Is In Foreclosure And I Need To Find Out For Sure Where Do I Get The Information?
  Your property manager is obviously not licensed because they do not know what they are talking about!!
  Even if the house is in foreclosure, you still MUST legally pay the rent! You must pay until the day you move out or the day the owner no longer owns it.
  You can check local court records to see if anything has been filed, but that is all you can access. The lender will not talk to you.
• I Was Told That My Rental Is In Foreclosure And I Need To Find Out For Sure Where Do I Get The Information?
  Legally you need to pay the rent. Your property manager needs to be in jail.
  The bank that takes over your house will tell you when they have possession, at which time you stop paying rent and move out.
  Being “in foreclosure” doesn’t mean much, and there is no action you need to take at this time.
  You will have to ask the owners what is going on, the bank will not tell you the status, it is not any of your business.
• How Long After You Stop Paying Mortgage Do They Put Your House In Foreclosure?
  Average 3 to 4 months, but some people are 6 months past due.
• How Long After You Stop Paying Mortgage Do They Put Your House In Foreclosure?
  Usually about 6 months

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