Should I be aware of anything else?

Yes. Beware of scams! Solutions that sound too simple or too good to be true usually are. If you’re selling your home without professional guidance, beware of buyers who try to rush you through the process.  Unfortunately, there are people who may try to take advantage of your financial difficulty.  Be especially alert to the following:

Equity skimming: In this type of scam, a “buyer” approaches you, offering to get you out of financial trouble by promising to pay off your mortgage or give you a sum of money when the property is sold.  The “buyer” may suggest that you move out quickly and deed the property to him or her.  The “buyer” then collects rent for a time, does not make any mortgage payments, and allows the lender to foreclosure.  Remember, signing over your deed to someone else does not necessarily relieve you of your obligation on your loan.

Phony counseling agencies:  Some groups calling themselves “counseling agencies” may approach you and offer to perform certain services for a fee.  These could well be services you could do for yourself for free, such as negotiating a new payment plan with your lender, or pursuing a pre-foreclosure sale.  If you have any doubt about paying for such services, call one of our offices.  Do this before you pay anyone or sign anything.