Are there any precautions I can take?

  • Here are several precautions that should help you avoid being “taken” by a scam artist:
  • Don’t sign any papers you don't fully understand.
  • Make sure you get all “promise” in writing.
  • Beware of any contract of sale or loan assumptions where you are not formally released from liability for your mortgage debt.
  • Check with a lawyer or your mortgage company before entering any deals involving your home.
  • If you’re selling the house yourself to avoid foreclosure, check to see if there are any complaints against the prospective buyer.  You can contact the court for this type of information.