REALTORS HEAR HORROR STORIES FROM NEW HEAD OF FREE LEGAL ASSISTANCE CENTER
HOME LOANS, SHASTA COUNTY, SHORT SALES, TIPS FOR BUYERS, TIPS FOR SELLERS, TIPS FOR SENIORS
September 6th, 2008
A group of local Realtors listened as Daryl Alvey, who was recently hired to head Legal 
Services of Northern California, gave an overview of problems local residents are having as a result of the housing market crisis. Roughly 60% of the financial difficulties stem from overwhelming medical bills that push them into financial ruin. Many clients of LSNC seek advice on filing for bankruptcy.
Mr. Alvey holds a law degree and a real estate brokers license and oversees 22 employees. They recently merged Senior Legal Services with Legal Services of Northern California. Senior Legal assists those 60 years of age or older regardless of income. Legal Services assists individuals under 60 that have a gross annual income of $13,000 or less. Homeowners and renters utilize their services frequently.
Foreclosure scams have touched some Shasta County residents. He recited a story about one scam artist from Sacramento that duped a local homeowner into signing over their home only to find out a few months later their home had been foreclosed upon and they were being evicted. The scam works like this: public records are reviewed to locate property owners whose lender has filed a Notice of Delinquency. This is the precursor to foreclosure. The scam artists contacts the homeowner by phone or mail and offers to come to their aid. They make promises such as:
- Reducing your payments to avoid foreclosure
- Free credit counseling services
- Representation to modify your current loan with your lender
- Save your credit from further damage
- Avoid embarrassment
If you take the bait, they have lots and lots of paperwork for the homeowner to fill out and sign, buried in there, is a grant deed that transfers title to the scammer. Usually, the scammer, who now owns your home, will refinance the property or extract your equity using a second mortgage or equity line, never make any payments, the home goes into foreclosure and before you know it, a marshal is evicting you from your home. Sometimes the scammer has accomplices that can include notaries, mortgage brokers, escrow officers and appraisers.
To avoid such scams, talk to a free credit counselor that will take the time to review your particular situation and give advice on how to proceed. HOPE is one such agency Mr. Alvey recommends. They can be reached at 888-995-HOPE. Call me if you think you are being victimized by a scam artist. Don’t sign anything until you have gotten a second opinion. Recent law changes give you a 5-day right of rescission from the date you sign documents for an equity sale or sharing agreement.
If I can help you with any real estate need, my contact information follows:
530-224-6767 or 530-941-7492
BRAD GARBUTT
REALTOR/BROKER ASSOCIATE
REAL ESTATE PROFESSIONALS GMAC
QUARTER CENTURY LOCAL REAL ESTATE EXPERIENCE
There are certainly a number of details like that to take into consideration. That may be a great point to bring up. I offer the ideas above as normal inspiration however clearly there are questions just like the one you bring up where crucial factor will likely be working in trustworthy good faith. I don?t know if best practices have emerged around things like that, however I am sure that your job is clearly identified as a good game. Each girls and boys feel the impact of just a second’s pleasure, for the remainder of their lives.
Hi! I just want to tell you that I found this blog really useful to me. I will visit this blog regularly to read more. Thanks. srt1308557513 http://ur1.ca/4d0se
It is really an great article and i’m very sure that it would have consumed many your high-quality time to produce such an exclusive and unique article. Will follow your site and will be practical if you may make additional periodical and organized blogging strategies for newcomers like us.